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On January 1,2016, Wasson Company purchased a delivery vehicle costing $46,000. The vehicle has an estimated 8 year life and a $4,400 residual value. Wasson
On January 1,2016, Wasson Company purchased a delivery vehicle costing $46,000. The vehicle has an estimated 8 year life and a $4,400 residual value. Wasson uses the units-of-production depreciation method and Wasson estimates that the vehicle will be driven 104,000 miles. What is the vehicle's book value as of December 31, 2017 assuming Wasson uses the units-of-production depreciation method and the vehicle was driven 10,400 miles during 2016 and 18,400 miles during 2017? (Do not round your intermediate calculations.) $35,600. O $30,080 O $31.200 O $34,480
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