Question: Cullumber uses the units-of-production method to calculate depreciation on its taxicabs. Each cab is expected to be driven 353.400 km over its life. Taxi 10

Cullumber uses the units-of-production method to calculate depreciation on its taxicabs.

Cullumber uses the units-of-production method to calculate depreciation on its taxicabs. Each cab is expected to be driven 353.400 km over its life. Taxi 10 was purchased on March 1, 2020, for $35,870 and is expected to have a residual value of $530. Taxi 10 was driven 132,740 km in 2020 and 115,150 km in 2021. Cullumber has a December 31 year end. Calculate the depreciation expense on Taxi 10 for 2020 and 2021. Year Depreciation expense $ 2020 2021

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