It's three months before the end of the financial year and Leo Murphy, owner and operator of Murph's Trucking, has just purchased a new truck for his cattle and hay hauling business. Costs incurred are as indicated below: (Click the icon to view the costs incurred.) Leo estimates a useful life for the truck of 10 years, at which time it could be sold for $20,000, he reckons. Leo's plan, however, is to upgrade to a new model in two years. Leo estimates the resale value in two years to be $100,000. Requirements Requirement (a) Murph's straight-line depreciation expense for the current year is $ 10000. (Round to the nearest cent.) Requirement (b) Show how Murph's truck will appear on the balance sheet after 15 months use. (Round to the nearest cent.) - X i Costs incurred expens ar on th Dealer charge $ 250,000 $ 3,100 Installation of GPS, safety devices, etc. 5 $ 2,400 Delivery charges $ 4,200 Import taxes $ 300 Fuel cost (first fill-up) Print Done