Speedy Express is a family operation that has been operating in Victoria for many years. It purchased a new delivery truck on January 1, 2017, at a cost of $50,000. As Speedy delivers over a wide area, considerable mileage will be recorded on the truck each year. Speedy currently uses the straight-line method but is considering using the double declining-balance method based at twice the straight-line rate. Speedy expects the life of the truck to be five years at the end of which there will be a salvage value of $5,000. Speedy has a December 31st year-end.Required(a) Prepare a depreciation schedule that shows the annual depreciation expense and carrying value for the delivery truck for its 5-year life for both the straight line and double-diminishing balance method. b) The truck was sold on July 1, 2019, for $10,000. Calculate the gain or loss under the double diminishing balance method and record the journal entry for the sale (c) Speedy decides to use the Units of the Production method for depreciation of the truck. Speedy expects to drive the truck for a total of 200,000 kilometers over its service life. Actual kilometers driven are: 2017 25,000 km; and 2018 37,000 km. Calculate depreciation expense for both 2017 and 2018 below: