On January 1, Year 1, the City Taxi Company purchased a new taxicab for $87 000. The cab has an expected salvage value of $3,000. The company estimates that the cab will be driven 200,000 miles over its life. It uses the units-of-production method to determine depreciation expense. The cab was driven 8.000 miles the first year and 93.000 the second year. What is the amount of depreciation expense reported on the Year 2 income statement and the book value of the taxi at the end of Year 2.respectively? (Do not round intermediate calculations) $43,065 and $13.920 $43,065 and - $22,080 $25.245 and $8160 $25.245 and $44,160 Click Company purchased orghes on July 1, Yar 1 for 260,000. A total of 200,000 bar of oil e expected to be extracted over the assets and 44.000 barrels are extracted and sold in Year 1. Which of the following correctly summarces the effect of the Year 1 depletion expense on the elements of the financial statements? Do not round intermediate calculations.) A decrease in stockholders' equity of $200,000 A decrease in ass of $589,600 A decrease in sets of $440,000. An increase in stockholders' equity of 629,600