On January 1, Logan Trusking purchated a usod Kerworth truck at a cost of $42,000. Logan Trucking expects tho truck to fentan useful for elight years (437, 500 miles) and to have a residual value of \$7,000, Logan Trucking expects the truck to be driven af, 500 miles the first ynar and 153,125 millon the s0cond year. Reod the ceovitements. Start by selecting the formulas needed to compute anmual depreciation under each of the three methods. a. Compute Logan Truckings finatyear deprecinbon expense on the truck using the straght ine method Fistyeir depieciaton on the thuck uting the straighpline method is 3 the pearest whole dollat? Firt-year depreciation on the truck using the units of production method is 5 c. Compute Logan Truckinge first-year depeeciation expense on the truck using the doutio-declining balance method. (Round the dositil-decining depreciatian rate to two decimul plates. Round your finat answer to the nearest whole dotar) Fratyear deprociation on the thuck using the doubla-dedining balance mathod is $ Requirement 2 . Show the truck's book value at the ond of the first yoar under the straight line method. Select the formula and then enter the amounts to cascaiate the book valve at the end of the frat year uaing the straightiline method