Current Attempt in Progress Your answer is incorrect. Pharoah Chemicals Company acquires a delivery truck at a cost of $35,000 on January 1,2022 . The truck is expected to have a salvage value of $2,900 at the end of its 5 -year useful life. Assuming the declining-balance depreciation rate is double the straight-line rate. compute annual depreciation for the first and second years under the declining-balance method. Wildhorse Taxi Service uses the units-of-activity method in computing depreciation on its taxicabs. Each cab is expected to be driven 146,000 miles. Taxi 10 cost $29,500 and is expected to have a salvage value of $300. Taxi 10 was driven 30,000 miles in 2021 and 34,400 miles in 2022 (a) Determine the depreciation cost. (Round answer to 2 decimal places, eg. 1.25.) Depreciable cost $ per unit eTextbook and Media Attempts: 0 of 3 used (b) The parts of this question must be completed in order. This part will be available when you complete the part above