On January 1, Logan Trucking purchased a used Kenworth truck at a cost of $42,000. Logan Trucking expects the truck to remain useful for ten years (370,000 miles) and to have a residual value of $5,000. Logan Trucking expects the truck to be driven 74,000 miles the first year and 129,500 miles the second year Read the requirements Requirement 1. Compute Logan Trucking's first-year depreciation expense on the truck using (a) Straight-line, (b) Units-of-production, and (c) Double-declining-balance. Start by selecting the formulas needed to compute annual depreciation under each of the three methods. Units-of production depreciation a. Straight-line b. Units-of ine method 2. Show the truck's book value at the end of the first year under the Print Done