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Units-of-activity Depreciation A truck acquired at a cost of $115,000 has an estimatedresidual valueof $6,700, has an estimated useful life of 38,000 miles, and was
Units-of-activity Depreciation
A truck acquired at a cost of $115,000 has an estimatedresidual valueof $6,700, has an estimated useful life of 38,000 miles, and was driven 2,700 miles during the year. Determine the following. If required, round your answer for the depreciation rate to two decimal places.
(a)The depreciable cost$(b)The depreciation rate$per mile(c)The units-of-activitydepreciationfor the year$
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