Taylor Construction purchased a truck for $64,000 on January 1, 2016. Taylor installed a custom towing package and a winch for an additional $2,667. Sales tax was 5% of the selling price. The annual commercial vehicle license and insurance were an additional $2,500. The truck had an estimated useful life of eight years and a residual value of $11,000. Taylor expects the truck to run for 200,000 miles. Taylor uses double-declining- balances depreciation and expenses all repairs and maintenance costs under $2,000. Taylor incurred the following additional costs over the life of the truck: Date Description Cost 1,500 12/31/17 New tires $10,000 12/31/19 New engine 1,500 12/31/19 New tires Required: 1. Assume the estimated residual value and useful life remain constant over the truck's life and that truck was sold for $20,000 on December 31, 2020. Complete the following table. Maintenance Expense Gain/(Loss) on Sale Net Expense Depreciation 2016 2017 2018 2019 2020 Total 2. Repeat Questions #1 assuming Taylor depreciates the truck based on the number of miles driven. The following table shows the number of miles driven by year: Miles Driven Year 50,000 2016 2017 35,000 15,000 2018 60,000 2019 20,000 2020 3. The CEO of Taylor is paid a year-end bonus based on the firm's net profit margin ratio. She has been