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I just need someone to check if I did this correctly. City Taxi Service purchased a new auto to use as a taxi on January

I just need someone to check if I did this correctly. image text in transcribed
City Taxi Service purchased a new auto to use as a taxi on January 1, 2018, for $27,100. In addition, City paid sales tax and title fees of $770 for the vehicle. The taxi is expected to have a five-year life and a salvage value of $6,220 Required a. Using the straight-line method, compute the depreciation expense for 2018 and 2019. (Round your answers to the nearest whole dollar amount.) b. Assume the van was sold on January 1, 2020, for $22,092. Determine the amount of gain or loss that would be recognized on the asset disposal. (Amounts to be deducted should be indicated with minus sign. Round the intermediate calculations to nearest whole dollar amount.) a. 2018 Depreciation 2019 Depreciation b. Gain $ 4,330 per year $ 4,330 per year on sale $ 2,882

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