Charm Company purchased a new car for use in its business on January 1, 2017. It paid $ 28 comma 000 for the car. Charm expects the car to have a useful life of four years with an estimated residual value of zero. Charm expects to drive the car 50 comma 000 miles during 2017, 45 comma 000 miles during 2018, 20 comma 000 miles in 2019, and 45 comma 000 miles in 2020, for total expected miles of 160 comma 000. Read the requirementsLOADING.... Using the straight-line method of depreciation, calculate the following amounts for the car for each of the four years of its expected life: a. Depreciation expense b. Accumulated depreciation balance c. Book value

Charm Company purchased a new car for use in its business on January 1, 2017. It paid $28,000 for the car. Charm expects the car to have a useful life of four years with an estimated residual value of zero. Charm expects to drive the car 50,000 miles during 2017, 45,000 miles during 2018, 20,000 miles in 2019, and 45,000 miles in 2020, for total expected miles of 160,000. Read the requirements. (Complete all answer boxes. Enter a "O" for any zero values.) Straight-line method Annual Depreciation Accumulated Book Value Year Expense Depreciation Start X 2017 Requirements 2018 2019 Using the straight-line method of depreciation, calculate the following amounts for the car for each of the four years of its expected life: 2020 a. Depreciation expense b. Accumulated depreciation balance c. Book value Print Done