Cny Tax Service purchased a new auto to use as a taxi on January 1 Year 1, for $27,800. In addition, City pald sales tax and title fees of $1,000 for the vehicle. The taxi is expected to have a five-year life and a salvage value of $5,410, Required a. 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 $22,361. 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. Rega Rey 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 Reg B and C> Crty Taxi Service purchased a new auto to use as a taxi on January 1, Year 1, for $27.800. In addition, Chy pald sales tax and title fees of $1.000 for the vehicle. The taxt is expected to have a five year life and a salvage value of $5.410. Required a. Using the straight-line method, compute the depreciation expense for Year 1 and Year 2 b&c Assume that the tax was sold on January 1. Year 3. for $22,361. 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 Heq Dand Assume that the Req B and Cnuary 1. Year 3. for $22.361. Prepare the general journal entries to record the Year 1 depreciation and sale of the tall entry is required for a transaction/event, select "No journal entry required in the first account field.) View transactions Journal entry worksheet