Skysong, Inc. acquires a delivery truck at a cost of $46,000. The truck is expected to have a salvage value of $3,000 at the end of its 4-year useful life. Assuming the declining-balance depreciation rate is double the straight-line rate, compute annual depreciation for the first and second years under the declining-balance method. Year 1 Year 2 Annual depreciation expense Brief Exercise y-7 Concord Taxi Service uses the units-of-activity method in computing depreciation on its taxicabs. Each cab is expected to be driven 157,000 miles. Taxi no. 10 cost $33,000 and is expected to have a salvage value of $1,600. Taxi no. 10 is driven 33,900 miles in year 1 and 18,600 miles in year 2. Calculate depreciable cost per mile using unit-of-activity method. (Round answer to 2 decimal places, e.g. 0.50.) Depreciable costs per mile LINK TO TEXT VIDEO TUTORIAL Compute the depreciation for each year. (Round answers to o decimal places, e.g. 125.) Year 1 Year 2 Depreciations