Accounting for Plant Assets Basin Corporation had the following transactions related to its delivery truck: Year 1 Jan 5 Purchased or $16,300 cash a new truck with an estimated useu if of four years anda sabage value of s4,300 Feb. 20 Installed a new set of side-view mirrors at a cost of $68 cash wheel balancing, and a periodic chassis lubrication Aug. 2 Paid a $410 repair bill for the Dec 31 Recorded depreciation on the truck for the year ninsured portion of damages to the truck caused by Basin's own driver Year 2 May 1 Installed a set of Dec. 31 Recorded depreciation on the truck for the year May1 Instaled a set of parts bins in the truck at a cost of $800 cash This expenditure was not expected to increase the salvage value of the truck Year 3 Dec. 31 Recorded depreciation on the truck for the year Basin's depreciation policies include() using straight-line depreclation (2) recording depreciation to the nearest whole month, and 3) expensing all truck expenditures of $100 or less