On January 1, 2020 Moore Demolition, a Sherbrooke, Quebec, company specializing in blasting and removing buildings purchased and took delivery of a new dump truck to add to its growing fleet Moore Demolition has a high-class reputation and uses only the best and newest equipment on its worksites. The business spent $160,000 plus HST on the truck, which is expected to be useful to the business for four years, at which time it should be able to be sold for $60,000. Moore Demolition has always used the straight-line basis of calculating amortization. The new owners want to see the amortization schedules for the straight-line, UOP and DDB methods just to be sure this makes sense The business expects the truck to be useful for 200,000 kilometres-68,000 kilometres in Year 1, 46,000 kilometres in each of Years 2 and 3 and 40.000 kilometres in Year 4. Is there a problem with continuing to use the straight-line method? Let's begin with the straight-line amortization schedule Before completing the straight-line amortization schedule calculate the straight-line amortization rate (Round the rate to two decimal places.) Time (1 Year) Straight-Line Amortization Rate / Useful Life Complete the Straight-Line Amortization Schedule Start by completing the first two years. (Round the amortization expense to the nearest whole number.) Asset Straight-Line Amortization Schedule Amortization Amortizable Amortization Accumulated Rate Cost Expense Amortization Asset Date Cost Book Value Jan. 1.2020 Dec 31, 2020 ---- anal Next