Score: 0 of 3 pts 2 of 10 (1 complete) HW Score: 6.36%, 1.91 of 30 pts S8-8 (book/static) Question Help On January 1, Titan Trucking purchased a used Kenworth truck at a cost of $48,000. Titan Trucking expects the truck to remain useful for four years (800,000 miles) and to have a residual value of $8,000 Titan Trucking expects the truck to be driven 160,000 miles the first year and 280,000 miles the second year Compute second-year depreciation expense on the truck using the following methods a. Straight-line b. Units of production c. Double-declining balance Start by selecting the formulas needed to compute annual depreciation under each of the three methods Straight-line depreciation Units of production depreciation N Double-declining balance depreciation Book value x [(1/Useful life in miles) x 2] Book value x [(1/Useful life in years) x 2] Book value x [(1/Useful life in years) x 3] (Cost - Residual value) /Useful life in miles [(Cost - Residual value) / Useful life in miles) x Miles driven (Cost - Residual value) /Useful life in years Cost/Useful life in miles Cost/Useful life in years C ? 2 parts