Brief Exercise 11-1

Headland Corporation purchased a truck at the beginning of 2017 for $52,500. The truck is estimated to have a salvage value of $2,100 and a useful life of 168,000 miles. It was driven 24,150 miles in 2017 and 32,550 miles in 2018.

Compute depreciation expense for 2017 and 2018.

Depreciation expense for 2017:

epreciation expense for 2018