A truck acquired at a cost of $160,000 has an estimated residual value of $8,100, has an estimated useful life of 31,000 miles, and was driven 2,800 miles during the year. Determine the following. If required, round your answer for the depreciation rate to two decimal places.

(a)	The depreciable cost	$
(b)	The depreciation rate	$	per mile
(c)	The units-of-activity depreciation for the year	$

A building acquired at the beginning of the year at a cost of $112,400 has an estimated residual value of $5,600 and an estimated useful life of four years. Determine the following.

(a)	The double-declining-balance rate		%
(b)	The double-declining-balance depreciation for the first year	$

On February 13, Rocket Co. paid $3,430 to install a hydraulic lift and $59 for an air filter for one of its delivery trucks.

Journalize the entries for the new lift.

February 13

Journalize the entry for air filter expenditures.

February 13