Module 3 Exam Review (Chapters 9, 10, 11 and 12) "Make sure to review your Class Notes, Class Problems and Cengage assignments. We purchase a delivery truck for $70,000 cash. We estimate the following: Cost Residual Value Life in years Life in miles $70,000 $10,000 6 years 300,000 miles Number of tires 8 1: IF we have a fiscal year end of 12/31, and we purchase the truck in year 1 on March 1st, calculate the depreciation for the first 3 years using the straight-line method