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Units - of - Production Method A light car is purchased on January 1 at a cost of $ 2 7 , 7 0 0

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Units-of-Production Method
A light car is purchased on January 1 at a cost of $27,700. It is expected to serve for eight years and have a salvage value of $3,000. It is expected to be
used for 96,000 miles over its eight-year useful life. Using the units-of-production method, calculate the depreciation expense for the first and third years of
use if the car is driven 20,000 miles in year 1 and 18,000 miles in year 3. Round interim calculations to two decimal places.
Depreclation Expense
Year 1
Year 3
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