E Homework: Chapter 10 Homework Question 4, P10-31A (sl... Part 1 of 5 > HW Score: 30.29%, 15.14 of 50 points O Points: 0 of 20 Save On January 2, 2018, Reliable Delivery Service purchased a truck at a cost of $80,000. Before placing the truck in service, Reliable spent $4,000 painting it, $500 replacing tires, and $7,500 overhauling the engine. The truck should remain in service for five years and have a residual value of $8,000. The truck's annual mileage is expected to be 30,000 miles in each of the first four years and 20,000 miles in the fifth year140,000 miles in total. In deciding which depreciation method to use. Alec Rivera, the general manager, requests a depreciation schedule for each of the depreciation methods (straight-line, units-of-production, and double-declining-balance). Read the requirements. Requirement 1. Prepare a depreciation schedule for each depreciation method, showing asset cost, depreciation expense, accumulated depreciation, and asset book value. Begin by preparing a depreciation schedule using the straight-line method. Straight-Line Depreciation Schedule Depreciation for the Year Depreciable Useful Depreciation Accumulated Cost Life Expense Depreciation Asset Cost Book Date Value 1-2-2018 80,000 12-31-2018 = = 12-31-2019 12-31-2020 + + = 12-31-2021 12-31-2022 +