On January 1, 2024, Quick Delvery Service purchased a truck at a cost of $75,000. Before placing the fruck in servico, Ouick spent $3,000 painting it, $500 mplacing fros, and $9,500 overhauin the engine. The truck should remain in service tor five years and have a residual value of 510,000 . The truck's annual mleage is expected to be 27,000 miles in nach of the fru four yars and 12,000 miles in the fith yeat-120,000 miles in lotal. In deciding which depreclation method to use, Harvey Wamer, the genecat manager, recuests a deprecation schedule for each of the deprociation mothods (straight-line, units-of-production, and double-decining-batance). Read the Requirement 1. Prepare a depreciasion schedule for each depeeciation method, stiowing asset cost, depredation eupense, accursulated depreciation, and asset book velue Begin by preparing a depreciation schedule using the straight tine method, Requirements tion, and asset book vaiue. 1. Prepare a depreciation schedule for each depreciation method, showing asset cost, depreciation expense, accumulated depreciation, and asset book value. 2. Quick prepares financial statements using the depreciation method that reporis the highest net income in the early years of asset use. Consider the first year that Quick uses the truck, Identify the depreciation method that meets the company's objectives