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Ly Chapter #8 (Question 2) - Lyryx Learning Inc - Personal - Microsoft Edge @ https://lifa 1.lyryx.com/student-servlets/LabServlet?ccid=11241 ox lyryx Spreadsheet Print Preferences Help Chapter #8 (Question 2) Name: Ishita Ishita Date: 2022-02-15 Question 2 [15 points] Gulf Corp. runs tour buses through the Rocky Mountains. They purchased a luxury tour bus on March 2, 2014 for cash of $89,500. Its estimated useful life was 5 years or 50,000 hours with a residual value of $10,000. The company's year end is December 31. Assume actual hours of service were : 2014: 9,200 2015: 8,800 2016: 10.600 Calculate depreciation expense for the first three years of the asset's useful life by completing the following table using the different depreciation methods. Calculate the depreciation to the nearest whole month, and round depreciation amounts to the nearest whole dollar. For simplicity, assume that the buses are depreciated as one unit and will not be broken down into parts and depreciated. Straight-line method Double-declining balance method Units of production method Year 2014 2015 2016 SAVE AND CLOSE SUBMIT AND MARK Official Time: 23:26:23 -5C Mostly cloudy DENG 09:56 16-02-2022 o Type here to search