City Taxi Service purchased a new auto to use as a taxi on January 1 Year 1, for $27,000. In addition, City pald sales tax and title fees of $1,130 for the vehicle. The taxi is expected to have a five-year life and a salvage value of $6,930, Required 2. Using the straight-line method, compute the depreciation expense for Year 1 and Year 2 b&c. Assume that the taxl was sold on January 1, Year 3. for $22,598. Prepare the general journal entries to record the Year 1 depreciation and sale of the taxi in Year 3. Complete this question by entering your answers in the tabs below. Reg A Reg Band Duing the straight-line method, compute the depreciation expense for Year 1 and Year 2. (Round your answers to the nearest whole dollar amount.) Yoar 1 Year 2 Depreciation expense A Reg B and C> View transaction list Journal entry worksheet Record depreciation expense. Note: Enter debits before credits Dato General Journal Debit Credit Year 1 Record entry Clear entry View general Journal