On January 2, 2018, Brisk Delivery Service purchased a truck at a cost of $62,000. Before placing the truck in service, Brisk spent $2,200 painting it, $500 replacing tires, and $5,300 overhauling the engine. The truck should remain in service for five years and have a residual value of $5,000. The truck's annual mileage is expected to be 28,000 miles in each of the first four years and 18,000 miles in the fifth year130,000 miles in total. In deciding which depreciation method to use, Jordan Lipnik, the general manager, requests a depreciation schedule for each of the depreciation methods (straight-line, units-of-production, and double-declining-balance). Read the requirements Asset Date Cost Useful Book Depreciable Cost Depreciation Accumulated Expense Depreciation Life Value 1-2-2018 $ 70,000 $ 70,000 12-31-2018 $ 65,000 5 years $ 13,000 57,000 13,000 $ 13,000 12-31-2019 65,000+ 5 years 26,000 44,000 12-31-2020 65,000 + 5 years = 13,000 39,000 31,000 12-31-2021 65,000 + 5 years 13,000 52,000 18,000 5,000 12-31-2022 65,000 + 5 years 13,000 65,000 Before completing the units-of-production depreciation schedule, calculate the depreciation expense per unit. Select the formula, then enter the amounts and calculate the depreciation expense per unit. (Round depreciation expense per unit to two decimal places.) ( Cost ) + Useful life in units Residual value 5,000 Depreciation per unit $ 0.50 70,000 $ ) + 130,000 Prepare a depreciation schedule using the units-of-production method. (Enter the depreciation per unit to two decimal places, $X.XX.) Units-of-Production Depreciation Schedule Depreciation for the Year Asset Depreciation Number of Depreciation Accumulated Date Cost Per Unit Units Expense Depreciation 1-2-2018 Book Value 12-31-2018 x 12-31-2019 X = 12-31-2020 = 12-31-2021 = 12-31-2022 X