Multiple Choice Question 56 On January 1, Mondale Co. paid $92000 for a new truck. It was estimated that the truck would be driven 200000 miles during the next years, at which time it would have a salvage value of $7000. At the end of the first three years, the odometer registered 27000, 53000, and 78000 miles, respectively. What is the book value of the truck using the activity method of depreciation at the end of the third year? $67150 $24850 $51850 $58850