Fernandez Corporation purchased a truck at the beginning of 2014 for $50,000 The truck is estimated to have a salvage value of $2,000 and a useful life of 160,000 miles It was driven 23,000 miles in 2014 and 31,000 miles in 2015 Compute depreciation expense for 2014 and 2015 ...

Fernandez Corporation purchased a truck at the beginning of 2014 for $50,000. The truck is estimated to

Question:

Fernandez purchased a truck at the beginning of 2014 for $50,000. The truck is estimated to have a of $2,000 and a useful life of 160,000 miles. It was driven 23,000 miles in 2014 and 31,000 miles in 2015. Compute depreciation expense for 2014 and 2015?
Salvage Value
Salvage value is the estimated book value of an asset after depreciation is complete, based on what a company expects to receive in exchange for the asset at the end of its useful life. As such, an asset’s estimated salvage value is an important... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...