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Units-of-activity depreciation A truck acquired at a cost of $69,000 has an estimated residual value of $12,000, has an estimated useful life of 300,000 miles,
Units-of-activity depreciation
A truck acquired at a cost of $69,000 has an estimated residual value of $12,000, has an estimated useful life of 300,000 miles, and was driven 77,000 miles during the year. Determine the following. If required, round your answer for the depreciation rate to 2 decimal places.
(a)The depreciable cost$____?
(b)The depreciation rate$ ____per mile?
(c)The units-of-activity depreciation for the year$_____?
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