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Engvoll Inc. purchased a transport truck for $209,600. The company expected the truck to have a useful life of 8 years or 262,400 kilometres, with
Engvoll Inc. purchased a transport truck for $209,600. The company expected the truck to have a useful life of 8 years or 262,400 kilometres, with an estimated residual value of $12,800 at the end of that time. During the first and second years, the truck was driven 28,000 and 29,100 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 0 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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