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Fairuz Corporation purchased a truck on January 1, 2020 for $55,000. The truck is estimated to have a salvage value of $5,000 and a useful

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Fairuz Corporation purchased a truck on January 1, 2020 for $55,000. The truck is estimated to have a salvage value of $5,000 and a useful life of 150,000 miles. It was driven 23,000 miles in 2020 and 31,000 miles in 2021. Instructions: Compute depreciation expense using the units-of-production method for 2020 and 2021

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