A truck acquired at a cost of $60,000 has an estimated residual value of $2,000, has an estimated useful life of 200,000 miles, and was driven 15,000 miles during the year. Determine the following. If required, round your answer for the depreciation rate to 2 decimal places. Line Item Description Amount (a) The depreciable cost $fill in the blank 1 (b) The depreciation rate $fill in the blank