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12) Exercise 2. (20 points) Musson Ltd purchased a new vehicle on July 1, 2018, for $50,000. The estimated life of the car was six

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12) Exercise 2. (20 points) Musson Ltd purchased a new vehicle on July 1, 2018, for $50,000. The estimated life of the car was six years or 130,000 miles, and its salvage value was estimated to be $5,000. The car was driven 10,000 miles in 2018 and 25,000 miles in 2019. Compute the amount of depreciation expense for 2018 and 2019 using the following methods: a. Straight-line b. Units-of-production Type your answer here

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