50 er On January 2, 2024 Quick Delivery Service purchased a truck at a cost of $80,000. Before placing the truck in service, Quick spent $2,200 painting it, $500 replacing tires, and $9,300 overhauling the engine. The truck should remain in service for five years and have a residual value of $8,000 The truck's annual mileage is expected to be 30.000 miles in each of the first four years and 20,000 miles in the fifth year140,000 miles in total. In deciding which depreciation method to use, Steven Kittridge, the general manager requests a depreciation schedule for each of the depreciation methods (straight-line, units-of-production, and double declining balance) Read the requirements 29 an th tit Requirement 1. Prepare a depreciation schedule for each depreciation method, showing asset cost, depreciation expense, accumulated depreciation, and asset book value Begin by preparing a depreciation schedule using the straight-line method Straight-Line Depreciation Schedule Depreciation for the Year Asset Depreciable Useful Depreciation Accumulated Book Date Cost Life Expense Depreciation Value 1-2-2024 92000 Cost tc 12-31-2024 12-31 2025 12 31-2026 12 31 2027 ac 12-31 2028