City Taxi Service purchased a new auto to use as a taxi on Januaty 1, Year 1, for $25,900. In addition, City paid sales tax and title fees of $1,120 for the vehicle. The taxi is expected to have a five-year life and a salvage value of $5,880. Required 0. Using the straight-ine method, compute the depreciation expense for Year 1 and Year 2 b \& c. Assume that the taxi was sold on January 1, Year 3, for $21,349. 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. Using the straight-line method, compute the depreciation expense for Year 1 and Year 2. (Round your answers to the nearest whole dollar amount.) Assume that the taxi was sold on January 1, Year 3 , for $21,349. Prepare the general journal entries to and sale of the taxi in Year 3. (If no entry is required for a transaction/event, select "No journal entry Journal entry worksheet Note: Enter debits before credits