SCENARIO: You have purchased a company truck for $$107,000$ and you are attempting to choose a depreciation method. Check IRS Table $7-1$ for the appropriate years of useful life. The salvage value is $$10,700$ and total life$-$time mileage of $225,000.$ Complete the tables below for four depreciation methods $($Straight$-$Line, Double Declining Balance, Units of Production, MACRS$).$ If you are familiar with Excel, you may write formulas into this spreadsheet to calculate the totals. If you have not yet taken AGAB$-08$ and do not know how to write formulas in Excel, work out the numbers on a calculator and then type your answers into this table. Remember, depreciation is always rounded to the nearest whole dollar.

$5$

$6$

$7$ STR$$GHT$-$LINE METHOD