Question: Speedy Taxi Service uses the units-of-production method to calculate depreciation on its taxicabs. Each cab is expected to be driven 325,000 km. Taxi 10 was

Speedy Taxi Service uses the units-of-production method to calculate depreciation on its taxicabs. Each cab is expected to be driven 325,000 km. Taxi 10 was purchased on March 1, 2014, for $33,000 and is expected to have a residual value of $500. Taxi 10 was driven 125,000 km in 2014 and 105,000 km in 2015. Speedy Taxi Service has a December 31 year end. Calculate the depreciation expense on Taxi 10 for 2014 and 2015.

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