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Sheridan Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on January 1, 2025, at a cost of $147,000. Over
Sheridan Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on January 1, 2025, at a cost of $147,000. Over its 4-year useful life, the bus is expected to be driven 248,750 miles. Salvage value is expected to be $7,700. (a) Compute the depreciation cost per unit. (Round answer to 3 decimal places, e.g. 6.251.) Prepare a depreciation schedule assuming actual mileage was 2025,58,800;2026,76,500;2027,60,200; and 2028,53,250. (Round depreciation cost per unit to 3 decimal places, e.g. 0.125 and other answers to 0 decimal places, e.g. 125.)
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