Homework Problem Directions: 1. Save a copy of this file to your computer 2. Answer the questions below showing all of your calculations. 3. Save the completed file and attach a copy to your "Graded Assignment" submission. Submit your solution by the due date This Assignment is worth 10 points. Homework submitted after the due date will earn 0 points 4. On Jan 1, 20012, Jen & Berry's Ice Cream Co. purchased a new fleet of delivery trucks for a total of S500,000. The estimated life of the trucks is 8 years. During those 8 years it is expected that the trucks can be driven a total of 800,000 miles. The total estimated residual value is $100,000. Compute the depreciation expense on the fleet of trucks in 2012 and 2013 using the Straight Line and 200% Declining-Balance methods. Also calculate the 2012 and 2013 depreciation using the Units of Output Method if the trucks are driven a total of 80,000 miles in 2012 and 120,000 miles in 2013. Finally, indicate which depreciation method would give Jen & Berry's the largest profits in 2012. Answers Method 2012 Depreciation Expense2013 Depreciation Expense Straight Line 200% Declining Units of Output Depreciation method giving Jen & Berry's the largest profits in 2012: Briefly Explain Why: IMPORTANT: Show All Calculations on next page in order to receive credit for your answers above!! Calculations