Concord Taxi Service uses the units-of-activity method in computing depreciation on its taxicabs. Each cab is expected to be driven 142,000 miles. Taxi no. 10 cost $32,340 and is expected to have a salvage value of $1,100. Taxi no. 10 was driven 28,300 miles in 2022 and 24,600 miles in 2023.

(a1)

Calculate depreciation cost per mile using unit-of-activity method. (Round answer to 2 decimal places, e.g. 0.50.)

Depreciation cost

$enter the depreciation cost in dollars per mile rounded to 2 decimal places per mile

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(a2)

Compute the depreciation for each year.

		2022		2023
Depreciation		$enter a dollar amount		$enter a dollar amount