DEPRECIATION 1: On January 1, 20x1, Tony's Catering Inc. purchased for $50,000 be driven an estimated 100,000 miles. The truck has an estimated useful life of five residual value of $2,000. To the best of your ability, prepare a depreciation schedul Straight-line Cost Date of purchase End of year 1 2 3 4 5 Double-Declining Date of purchase End of year 1 2 3 4 5 Yearly Depr Acc. Depr Carrying Value Units of Activity Units of Activity Depr Cost/unit Annl Depr Exp Year 3 only