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Engvoll Inc. purchased a transport truck for $192,400. The company expected the truck to have a useful life of 8 years or 224,000 kilometres, with
Engvoll Inc. purchased a transport truck for $192,400. The company expected the truck to have a useful life of 8 years or 224,000 kilometres, with an estimated residual value of $13,200 at the end of that time. During the first and second years, the truck was driven 29,200 and 32,000 kilometres, respectively. Calculate the depreciation expense for the second year under the straight-line, units-of-production, and double- diminishing-balance methods. (Round depreciation per kilometre to 2 decimal places. eg. 1.25 and final answers to decimal places, e.g. 5,275.) Year 2 Depreciation Expense Straight line method Units-of-production method $ Double-diminishing-balance method $
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