Business, 15.07.2021 01:10 NeverEndingCycle

A delivery truck was purchased for $120,000 on January 1. It was estimated to have a useful life of 10 years and 200,000 miles with a residual value of $10,000. During the first year, the truck was driven 18,700 miles. Calculate the depreciation expense for the first year, assuming the company uses the units-of-production method. Show your answer as a whole dollar amount.

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A delivery truck was purchased for $120,000 on January 1. It was estimated to have a useful life of...