City Taxi Service purchased a new auto to use as a taxi on January 1 Year 1, for $28,600. In addition, City paid sales tax and title fee of $1,040 for the vehicle. The taxi is expected to have a five-year life and a salvage value of $6,140, Required a. Using the straight-line 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 $23.276. 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. Req A Req B and C Using the straight-line method, compute the depreciation expense for Year 1 and Year 2. (Round your answers to the nearest whole dollar amount.) Year 1 Year 2 Depreciation expense HO Req Band C >