i -X Requirements 1. Compute Austin Trucking's first-year depreciation expense on the truck using the following methods: a. Straight-line b. Units of production c. Double-declining balance 2. Show the truck's book value at the end of the first year under the straight-line method. Print Done On January 1, Austin Trucking purchased a used Kenworth truck at a cost of $39,000. Austin Trucking expects the truck to remain useful for eight years (950,000 miles) and to have a residual value of $1,000. Austin Trucking expects the truck to be driven 190,000 miles the first year and 332,500 miles the second year. Read the fequirements Requirement 1. Compute Austin Trucking's first-year depreciation expense on the truck using (a) Straight-line, (b) Units of production, and (c) Double-declining balance. Start by selecting the formulas needed to compute annual depreciation under each of the three methods. Straight-line depreciation Units of production depreciation Double-declining balance depreciation a. Compute Austin Trucking's first-year depreciation expense on the truck using the straight-line method. First-year depreciation on the truck using the straight-line method is $ b. Compute Austin Trucking's first-year depreciation expense on the truck using the units of production method. (Round the depreciation per unit to the nearest cent, and round your final answer to the nearest whole dollar.) First-year depreciation on the truck using the units of production method is $ c. Compute Austin Trucking's first-year depreciation expense on the truck using the double-declining balance method. (Round the double-declining depreciation rate to two decimal places. Round your final answer to the nearest whole dollar.) First-year depreciation on the truck using the double-declining balance method is $ Requirement 2. Show the truck's book value at the end of the first year under the straight-line method. Select the formula and then enter the amounts to calculate the book value at the end of the first year using the straight-line method. Book value