OTR.pdf 80% 7. Gamma Corporation purchased a vehicle on August 9, 2015 for $87,000. The estimated salvage value (residual value) was $9,000 and its life was estimated to be either 10 years or 354,545 kilometers. Gamma uses the nearest whole month process and records depreciation only at year-end (December 31"). Required: 1. calculate the amount of depreciation for 2015 and 2016 using: (6 marks) ) straight-line depreciation b) units of production (2015 usage: 23,000 km 2016 usage: 49,000 km) c) double-declining balance (DDB) 2. Journalize the 2015, DDB depreciation. (1 mark) 3. On January 1, 2017. it was determined that the vehicle would last only 6 years, in total, not 10 years, and the estimated salvage value would be $15,000. Calculate the 2017 depreciation expense, using straight-line depreciation. (1 mark) 190