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Crane Company purchased a truck at the beginning of 2020 for $108200. The truck is estimated to have a salvage value of $3200 and a
Crane Company purchased a truck at the beginning of 2020 for $108200. The truck is estimated to have a salvage value of $3200 and a useful life of 115000 miles. It was driven 18000 miles in 2020 and 26000 miles in 2021. What is the depreciation expense for 2021? (Round intermediate calculations to 3 decimal places, eg, 0.245) $25186 $7000 O $23738 $40172 Sheffield Corp, which has a calendar year accounting period, purchased a new machine for $101700 on April 1, 2016. At that time Sheffield expected to use the machine for nine years and then sell it for $10170. The machine was sold for $54100 on Sept. 30,2021. Assuming straight-line depreciation, no depreciation in the year of acquisition, and a full year of depreciation in the year of retirement, the gain to be recognized at the time of sale would be O $5250. O $10170. O $3250 O $0
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