Depreciation for Partial Periods Storm Delivery Company purchased a new delivery truck for $60,000 on April 1, 2019. The truck is expected to have a service life of 5 years or 120,000 miles and a residual value of $3,000. The truck was driven 10,000 miles in 2019 and 18,000 miles in 2020. Storm 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.) a. Straight-line method 2019 $ 8,550 2020 $ 11,400 b. Sum-of-the-years-digits method 2019 $ 14,250 2020 $ 34,200 x c. Double-declining-balance method 2019 $ 24,000 X 2020 $ 14,400 d. Activity method 2019 $ 4,750 X 2020 $ 8,550 2. 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.) a. Straight-line method 2019 $ 51,450 2020 $ 40,050 b. Sum-of-the-years'- digits method 2019 $ 45,750 2020 $ 11,550 X c. Double-declining-balance method 2019 $ 36,000 X 2020 $ 21,600 X C. Double-declining-balance method 2019 $ 36,000 2020 $ 21,600 d. Activity method 2019 $ 55,250 X 2020 $ 46,700 under an accelerated method as compared to the straight-line method. The straight-line x method is appropriate when the service 3. Next Level The book value of the asset in the early years of the asset's service will be higher x life of the asset is affected primarily by the amount the asset is used