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Toros Co. purchased a van for $36,000. They expect to use the Van for 6 years and drive it 120,000 miles. At the end of
Toros Co. purchased a van for $36,000. They expect to use the Van for 6 years and drive it 120,000 miles. At the end of its use, they expect the van to have a salvage value of $6,000. During the year, they drove the van 23,400 miles. Using the units of activity method, what would Toros Co. record as their depreciation expense for the year?
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