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Marigold Company purchased a delivery truck for $34,000 on January 1, 2020. The truck has an expected salvage value of $3,100, and is expected to
Marigold Company purchased a delivery truck for $34,000 on January 1, 2020. The truck has an expected salvage value of $3,100, and is expected to be driven 103,000 miles over its estimated useful life of 8 years. Actual miles driven were 16,100 in 2020 and 11,700 in 2021. (a1) Your answer has been saved. See score details after the due date. Calculate depreciation expense per mile under units-of-activity method. (Round answer to 2 decimal places, eg. 0.50) Depreciation expense 0.30 per mile Attempts: 1 of 1 used Compute depreciation expense for 2020 and 2021 using (1) the straight-line method, (2) the units-of-activity method, and (3) the double-declining-balance method. (Round depreciation cost per unit to 2 decimal places, eg. 0.50 and depreciation rate to O decimal places, e.g. 15%. Round final answers to O decimal places, e.g. 2,125.) Depreciation Expense 2020 2021 (1) Straight-line method $ I 3863 $ 3863 (2) Units-of-activity method $ 4830 $ 3510 (3) Declining-balance method 8500 $ 6375
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