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On January 1, 2019, Wasson Company purchased a delivery vehicle costing $30,270. The vehicle has an estimated 7-year life and a $3,300 residual value. Wasson
On January 1, 2019, Wasson Company purchased a delivery vehicle costing $30,270. The vehicle has an estimated 7-year life and a $3,300 residual value. Wasson uses the units-of-production depreciation method and Wasson estimates that the vehicle will be driven 93,000 miles. What is the vehicle's book value as of December 31, 2020, assuming the vehicle was driven 11,700 miles during 2019 and driven 19,700 miles during 2020? (Do not round your intermediate calculations.)
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