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1. Please follow the directions and put clear solution! Thank you! Solve the following problems and use 2 decimal places for all computations. Please input
1. Please follow the directions and put clear solution! Thank you!
Solve the following problems and use 2 decimal places for all computations. Please input your answers (also in 2 decimal places) in the blanks/boxes provided. Question 1 32 pts On 1 Jan 2020, Company A purchased a vehicle costing $21,000. A certain vehicle upgrade of $3,000 was added with the purchase. Also, a delivery fee of $500 was included in the expense. The company expects the vehicle to be operational for 4 years at the end of which it can be sold for $5,200. Calculate depreciation expense for the year ended 31 Dec 2020, 2021, 2022 and 2023 using the Straight Line and Sum-of-Year's Digits method. Straight Line Sum-of-Year's Digits Time Depreciation ($) Book Value ($) Depreciation ($) Book Value ($) 31 Dec 2020 31 Dec 2021 31 Dec 2022 31 Dec 2023Step by Step Solution
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