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JKL Inc.'s fiscal year ends on December 31. On January 1, 2021, JKL Inc. purchased a truck at a cost of $62,000. The estimated useful
JKL Inc.'s fiscal year ends on December 31. On January 1, 2021, JKL Inc. purchased a truck at a cost of $62,000. The estimated useful life of the truck is 3 years. The residual value is estimated at $2,000. The company uses the units-of-production depreciation method. Below is information on the actual milage during the years 2021, 2022, and 2023 : 2021:5,0002022:4,0002023:6,000 What was the depreciation expense the company recorded in 2022? 1. $16,533.33. 2. $16,000. 3. $20,000. 4. $22,133.33
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