On January 2, 2024, Speedway Delivery Service purchased a truck at a cost of $62,000. Before placing the truck in service, Speedway spent $2,500 painting it, $600 replacing tires, and $4,900 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 year-130,000 miles in total. In deciding which depreciation method to use, Harvey Warner, 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. Requirement 1. Prepare a depreciation schedule for each depreciation method, showing asset cost, depreciation expense, accumulated depreciation, and asset book value. Begin by preparing a depreciation schedule using the straight-line method. Straight-Line Depreciation Schedule Depreciation for the Year Date Asset Cost Depreciable Cost Useful Life Depreciation Accumulated Book Expense Depreciation Value 1-2-2024 12-31-2024 + = 12-31-2025 = 12-31-2026 12-31-2027 12-31-2028