please complete a,b, and c

Exercise 8-11A Events related to the acquisition, use, and disposal of a tangible plant asset: straight-line depreciation LO 8-2, 8-5 City Taxi Service purchased a new auto to use as a taxi on January 1, Year 1, for $24,700. In addition, City paid sales tax and title fees of 5680 for the vehicle. The taxi is expected to have a five-year life and a salvage value of $6,140. Required a. Using the straight-line method, compute the depreciation expense for Year 1 and Year 2. b&c. Assume that the taxi was sold on January 1 Year 3, for $20,337. Prepare the general Journal entries to record the Year 1 depreciation and sale of the taxi in Year 3. Answer is not complete. Complete this question by entering your answers in the tabs below. Reg A Req Band Using the straight-line method, compute the depreciation expense for Year 1 and Year 2. (Round your answers to the nearest whole dollar amount.) Year 1 Year 2 Depreciation expense $ 5,076 $ 5,076