E10-10 Lasseter Transportation, based in Natchez. Mississippi, is a large trucking company that operates throughout the southern United States. Lasseter uses the units-of-production (UOP) method to depreciate its trucks because UOP depreciation best measures wear and tear. Lasseter trades in used trucks often to keep driver morale high and to maximize fuel effi- ciency. Consider these facts about one Mack truck in the company's fleet. When acquired in 20X1, the tractor/trailer rig cost $385,000 and was expected to remain in service for ten years or 1.000.000 miles. Estimated residual value was $100.000. The truck was driven 75,000 miles in 20X1, 120,000 miles in 20X2. and 210,000 miles in 20X3. After 40,000 miles in 20X4, the company traded in the Mack truck for a less-expensive Freightliner. Lasseter paid cash of $80.000. Determine Lasseter's cost of the new truck. Journal entries are not required.