It's three months before the end of the financial year and Leo Mallory, owner and operator of Mal'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 $21,000, 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 $80,000. Requirements Requirement (a) Mal's straight-line depreciation expense for the current year is $ 24,943. (Round to the nearest cent.) X i Costs incurred Requirement (b) Show how Mal's truck will appear on the balance sheet after 15 months use. (Round to the nearest cent.) $ $ Dealer charge $ 260,000 270,430 Installation of GPS, safety devices, etc. $ 3,030 $ 2,800 Delivery charges Import taxes $ 4,100 Fuel cost (first fill-up) $ 500 Print Done