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Inspire Company purchased a new car for use in its business on January 1, 2017. It paid $21,000 for the car. Inspire expects the car
Inspire Company purchased a new car for use in its business on January 1, 2017. It paid $21,000 for the car. Inspire expects the car to have a useful life of four years with an estimated residual value of zero. Inspire expects to drive the car 10,000 miles during 2017, 65,000 miles during 2018, 10,000 miles in 2019, and 115,000 miles in 2020, for total expected miles of 200,000. Read the requirements (Complete all answer boxes. Enter a "0" for any zero values.) Double-declining-balance method Annual i Requirements x Accumulated Depreciation Expense Year Depreciation Book Value Start 2017 2018 Using the double-declining-balance method of depreciation, calculate the following amounts for the car for each of the four years of its expected life: a. Depreciation expense b. Accumulated depreciation balance c. Book value 2019 2020 Print Done
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