Question: Jerry Englehart Taxi Service uses the units-of-activity method in computing depreciation on its taxicabs. Each cab is expected to be driven 120,000 miles. Taxi 10

Jerry Englehart Taxi Service uses the units-of-activity method in computing depreciation on its taxicabs. Each cab is expected to be driven 120,000 miles. Taxi 10 cost

$24,500 and is expected to have a salvage value of $500. Taxi 10 was driven 30,000 miles in 2000 and 20,000 miles in 2001. Compute the depreciation for each year.

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