On January 1, 2024, On Time Delivery Service purchased a truck at a cost of $65,000. Before placing the truck in service, On Time spent $3,000 painting it, $800 replacing tires, and $10,700 overhauling the engine. The truck should remain in service for five years and have a residual value of $6,000. The truck's annual mileage is expected to be 23,000 miles in each of the first four years and 13,000 miles in the fifth year105,000 miles in total. In deciding which depreciation method to use, Harvey Warner, the general manager, requests a depreciation schedule for each of the depreciation methods (straight-line, units-of-production, and double- declining-balance). Requirement 1. Prepare a depreciation schedule for each depreciation method, showing asset cost, depreciation expense, accumulated depreciation, and asset book value. Begin by preparing a depreciation schedule using the straight-line method. Accumulated Book Straight-Line Depreciation Schedule Depreciation for the Year Asset Depreciable Useful Depreciation Date Cost Cost Life Expense 1-1-2024 12-31-2024 + = Depreciation Value 12-31-2025 + 12-31-2026 + + 12-31-2027 12-31-2028