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Ivanhoe Company purchased a delivery truck for $32,000 on July 1, 2025, The truck has an expected salvage value of $10,000, and is expected to

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Ivanhoe Company purchased a delivery truck for $32,000 on July 1, 2025, The truck has an expected salvage value of $10,000, and is expected to be driven 100,000 miles over its estimated useful life of 8 vears. Actual malies driven were 15,000 in 2025 and 12,000 in 2026. Ivanhoe uses the straight-line method of depreciation (a) Compute depreciation expense for 2025 and 2026

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