Clifford Delivery Company purchased a new delivery truck for $72,000 on April 1, 2019. The truck is expected to have a service life of 5 years or 90,000 miles and a residual value of $3,000. The truck was driven 8,000 miles in 2019 and 20,000 miles in 2020. Clifford computes depreciation expense to the nearest whole month.

Required:

1. Compute depreciation expense for 2019 and 2020 using the following methods: (Round your answers to the nearest dollar.)
2. Straight-line method
3. 2019 $ 2020 $
4. Sum-of-the-years'-digits method 2019 $ 2020 $
5. Double-declining-balance method 2019 $ 2020 $
6. Activity method 2019 $ 2020 $
7. For each method, what is the book value of the machine at the end of 2019? At the end of 2020? (Round your answers to the nearest dollar.)
8. Straight-line method
9. 2019 $ 2020 $
10. Sum-of-the-years'-digits method
11. 2019 $ 2020 $
12. Double-declining-balance method
13. 2019 $ 2020 $
14. Activity method 2019 $ 2020 $
15. Next Level The book value of the asset in the early years of the asset's service will be under an accelerated method as compared to the straight-line method. The method is appropriate when the service life of the asset is affected primarily by the amount the asset is used.