Stralght-Line Depreciation Equipment acquired at the beginning of the year at a cost of $470,000 has an estimated residual value of $62,000 and an estimated useful life of five years. Determine the following. A truck acquired at a cost of $170,000 has an estimated residual value of $8,800, has an estimated useful life of 31,000 miles, and was driven 2,500 miles during the year. Determine the following. If required, round your answer for the depreciation rate to two decimal places. a. The depreciable cost b. The depreciation rate c. The units-of-activity depreciation for the year