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2. Depreciation On July 1, 2022 your company purchased a vehicle for $42,500. You expect to use it for 4 years or 100,000 km,

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2. Depreciation On July 1, 2022 your company purchased a vehicle for $42,500. You expect to use it for 4 years or 100,000 km, at which point you will sell it for $2,500. Calculate and journalize depreciation at December 31, 2022 and December 31, 2023 using: straight line, double-declining balance, and units of production methods. In 2022 you drove the vehicle for 20,000 km and in 2023 you drove it 25,000 km.

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