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Ferret Inc. purchased a truck on April 1, 2017. The cost of the truck was $65,000. The salvage value is $5,000. The total number
Ferret Inc. purchased a truck on April 1, 2017. The cost of the truck was $65,000. The salvage value is $5,000. The total number of miles the truck is expected to drive is 250,000. In year 1, the truck was driven 50,000 miles. In year 2, the truck was driven 85,000 miles. In year 3, the truck was driven 100,000 miles. In year 4 the truck was driven 15,000. (A) Calculate the depreciation expense per mile (round to two decimal places) (B) Calculate the total depreciation expense each year
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