Question: Exercise 7-15 (Static) Determine activity-based depreciation (L07-4) Tasty Subs acquired a food service truck on October 1,2024 , for $120,000. The company estimates a residual

Exercise 7-15 (Static) Determine activity-based depreciation (L07-4) Tasty Subs acquired a food service truck on October 1,2024 , for $120,000. The company estimates a residual value of $40,000 and a four-year service life. It expects to drive the truck 100,000 miles. Actual mileage was 5,000 miles in 2024 and 28,000 miles in 2025. Required: Calculate depreciation expense using the activity-based method for 2024 and 2025, assuming a December 31 year-end. (Do not round your intermediate calculations.)

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