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Gutshall's Trucking Company purchased a tractor trailer for $98,000. Gutshall's Trucking uses the units-of-activity method for depreciating its trucks and expects to drive the truck

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Gutshall's Trucking Company purchased a tractor trailer for $98,000. Gutshall's Trucking uses the units-of-activity method for depreciating its trucks and expects to drive the truck 1,000,000 miles over its 12-year useful life. Salvage value is estimated to be $14.000. If the truck is driven 90,000 miles in its first year, how much depreciation expense should Gutshal's Trucking record? $7.000 $8.167 $8.820 $7.560 $6,820

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