Proctoring Enabled: Final Exam 27 Vert Ltd, purchased a vehicle on 1 January 20XB for $67,000 and began to use it immediately. The estimated physical e of the vehicle is 20 years, but the estimated useful life to Vert is 10 years. The vehicle has an estimated residual value of $1000. The vehicle is anticipated to be driven for 200,000 kilometres, and was driven 42,000 kilometres in 20XB and 48,000 kilometres in 70x9 Required: 1. Calculate depreciation expense for 20X8 and 20X9 using the straight line method, units of production, and declining balance using a rate of 50% 00:49:37 Straight line $ 6,000 $ 6,000 Units of production Declining balance $ 0 $ 6,000 $ 3,000 2. Repeat requirement 1 assuming that Vert decides that the useful life to Vert is 15 years, after which the residual value will be $7,300, and the total kilometres to be driven is now 300,000. 20XB 2009 Straight-line Units of production $ 3,980 $ 3,980 Declining balance $ 3,980 $ 1,990