Question: 16. & During the first two years, SON, Inc., drove the truck 112,000 and 120,000 miles, respectively, to deliver merchandise to its customers. The company

$16. \& During the first two years, SON, Inc., drove the$

16. \& During the first two years, SON, Inc., drove the truck 112,000 and 120,000 miles, respectively, to deliver merchandise to its customers. The company originally purchased the truck for $250,000. If the truck has an estimated life of 6 years or 700,000 miles, with an estimated residual value of $40,000, what amount of depreciation expense should SON record in the second year using the activity-based method? 17. \$ JMM Corporation purchased equipment at the beginning of Year 1 for $120,000. In Years 1 . 4, JMM depreciated the asset on a straight-line basis with an estimated useful life of 8 years and a $20,000 residual value. What is the BOOK VALUE of the equipment at the beginning of Year 5

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