Sunshine Taxi Company purchased a taxi on October 1, 2018, for $8,500. The taxi was expected to have a useful life of 5 years, or 102,500 miles, and a residual value of $300. The taxi was driven for 5,800 miles during 2018; 24,600 miles during 2019; 23,200 miles during 2020; 22,500 miles during 2021; 19,300 miles during 2022; and 12,400 miles during 2023. a.) Complete the following depreciation schedule for the taxi, assuming Sunshine Taxi Company uses the straight-line method to calculate depreciation expense. (Use Final Exam Problem #2 Template) Depreciation Accumulated Year Cost Cost - Residual Expense Depreciation Book Value 2018 _______ _______ _______ _______ _______ 2019 _______ _______ _______ _______ _______ 2020 _______ _______ _______ _______ _______ 2021 _______ _______ _______ _______ _______ 2022 _______ _______ _______ _______ _______ 2023 _______ _______ _______ _______ _______

Year		Cost		# of Miles		Depreciation Expense		Accumulated Depreciation		Book Value
2018
2019
2020
2021
2022
2023

Units of Production Depreciation Schedule
Year		Cost		Accumulated Depreciation Beg. of Year		Book Value Beg. of Year		Rate		Depreciation Expense		Accumulated Depreciation End of Year		Book Value End of Year
2018
2019
2020
2021
2022
2023