Tannenbaum Corporation purchased a truck on March 25, 2023 for $90,000. The truck is estimated to...
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Tannenbaum Corporation purchased a truck on March 25, 2023 for $90,000. The truck is estimated to have a salvage value of $3,600 and a useful life of 120,000 miles and five years. It was driven 18,000 miles in 2023 and 32,000 miles in 2024. Tannenbaum uses the units of activity method to calculate depreciation. Compute depreciation expense for 2023 and 2024. Tannenbaum Corporation purchased a truck on March 25, 2023 for $90,000. The truck is estimated to have a salvage value of $3,600 and a useful life of 120,000 miles and five years. It was driven 18,000 miles in 2023 and 32,000 miles in 2024. Tannenbaum uses the units of activity method to calculate depreciation. Compute depreciation expense for 2023 and 2024.
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Lets calculate it for the truck 1 Depreciable base Cost of truck 90000 Salvage value 3600 De... View the full answer
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