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On July 1, 2020 Buffalos Greenhouse purchased a new delivery truck for $60,000. Buffalo estimates that the delivery truck will have a five-year useful life,

On July 1, 2020 Buffalos Greenhouse purchased a new delivery truck for $60,000. Buffalo estimates that the delivery truck will have a five-year useful life, or 90,000 kilometres, and a residual value of $6,000. Buffalos Greenhouse has a December 31 year end. Buffalo drove the truck 11,000 km in 2020 and 37,000 km in 2021.

1. Calculate depreciation expense using the straight-line method for 2020 and 2021.

2. Calculate depreciation expense using the double-diminishing-balance method for 2020 and 2021.

3. Calculate depreciation expense using the units-of-production method for 2020 and 2021. (Round depreciable amount per unit to 2 decimal places, e.g. 5.27 and the final answers to 0 decimal places, e.g. 5,275.)

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