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Greased Lightning, a delivery service, purchased a new delivery truck for $40,000 on January 1, 2022. The truck is expected to have an estimated
Greased Lightning, a delivery service, purchased a new delivery truck for $40,000 on January 1, 2022. The truck is expected to have an estimated useful life of 10 years or 148,000 miles and an expected residual value of $3,000. The truck was driven 15,000 miles in 2022 and 13,400 miles in 2023. Required 1: Compute and provide in areas below the depreciation expense for 2022 and 2023 using the: a. Straight-line method. 2022 $ 2023 S b. Double declining balance method. 2022 $ 2023 S c. Units-of-production method. (Do not round intermediate calculations. If required, round your final answers to the nearest whole dollar.) 2022 $ 2023 $
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