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Exercise 10-07 a1-b2 Culver Company purchased a delivery truck for $30,000 on January 1, 2020. The truck has an expected salvage value of $3,250, and
Exercise 10-07 a1-b2 Culver Company purchased a delivery truck for $30,000 on January 1, 2020. The truck has an expected salvage value of $3,250, and is expected to be driven 107,000 miles over its estimated useful life of 8 years. Actual miles driven were 12,500 in 2020 and 13,900 in 2021 Calculate depreciation expense per mile under units-of-activity method. (Round answer to 2 decimal places, e.g. 0.50.) Depreciation expense per mile SHOW LIST OF ACCOUNTS LINK TO TEXT Compute depreciation expense for 2020 and 2021 using (1) the straight-line method, (2) the units-of-activity method, and (3) the double-declining-balance method. (Round depreciation cost er unit to 2 decimal places, e.g. 0.50 and depreciation rate to 0 decimal places, e.g. 15%. Round final answers to 0 decimal places, e.g. 2,125.) Depreciation Expense 2020 2021 (1) Straight-line method (2) Units-of-activity method (3) Declining-balance method
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