Problem 3 ABC purchases a new small truck for delivery purposes on January 1, 2011. The cost of the vehicle is $30,000 and has an estimated residual value of $5,000. The estimated useful life of the truck is 5 years or 100,000 miles. In 2011 the truck is driven 25,000 miles. In 2012 the truck is driven 50,000 miles. In 2013 the truck is driven 30,000 miles. In 2014 the truck is driven 20,000 miles.

1. Calculate the Net Book Value under straight-line depreciation for 2011.

2. Calculate the Net Book Value under straight-line depreciation for 2012.

3. Calculate the Net Book Value under straight-line depreciation for 2013.

4. Calculate the Net Book Value under straight-line depreciation for 2014.

5. Calculate the Net Book Value under units-of-production depreciation for 2011.

6. Calculate the Net Book Value under units-of-production depreciation for 2012.

7. Calculate the Net Book Value under units-of-production depreciation for 2013.

8. Calculate the Net Book Value under units-of-production depreciation for 2014.

9. Calculate the Net Book Value under double-declining balance depreciation for 2011.

10. Calculate the Net Book Value under double-declining balance depreciation for 2012.

11. Calculate the Net Book Value under double-declining balance depreciation for 2013.

12. Calculate the Net Book Value under double-declining balance depreciation for 2014.