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Units-of-activity Depreciation A truck acquired at a cost of $500,000 has an estimated residual value of $29,750, has an estimated useful life of 55,000 miles, and was driven 3,900 miles during the wear. Determine the following. If required, round your answer for the depreciation rate to two decimal places. (a) The depreciable cost per mile (b) The depreciation rate (c) The units-of-activity depreciation for the year