Exercise 10-7 Calculating depreciation LO^2 Jackal Energy purchased a transport truck on January 1,2014, for $238,400 cash. Its estimated useful life is five years or 240,000 kilometres with an estimated residual value of $46,400. Required Calculate depreciation expense for the year ended December 31, 2014, using each of the following methods: a. Straight-line b. Double-declining-balance c. Units-of-production (assume 38,000 kilometres were actually driven in 2014). Analysis Component: Which depredation method will produce the highest net income for Jackal in 2014