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Concord Corporation purchased a truck for $89,000. The company expected the truck to last four years or 112,000 miles, with an estimated residual value of
Concord Corporation purchased a truck for $89,000. The company expected the truck to last four years or 112,000 miles, with an estimated residual value of $15,000 at the end of that time. During the second year the truck was driven 42,000 miles. Compute the depreciation for the second year under each of the methods below and place your answers in the blanks provided.
Units-of-activity | $_____enter the depreciation for the second year under the Units-of-activity method in dollars | |
Double-declining-balance | $____enter the depreciation for the second year under the Double-declining-balance method in dollars |
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