GA3 Saved Help Save & Exit Submit Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question 4 ! Part 3 of 5 Required information (The following information applies to the questions displayed below.] Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and supplies. They decide to purchase a used Suburban on July 1, 2022, for $12,000. They expect to use the Suburban for five years and then sell the vehicle for $4,500. The following expenditures related to the vehicle were also made on July 1, 2022 11.11 points The company pays $1,800 to GEICO for a one-year insurance policy. The company spends an extra $3,000 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides. An additional $2,000 is spent on a deluxe roof rack and a trailer hitch. The painting, roof rack, and hitch are all expected to increase the future benefits of the vehicle for Great Adventures. In addition, on October 22, 2022, the company pays $400 for basic vehicle maintenance related to changing the oil, replacing the windshield wipers, rotating the tires, and inserting a new air filter. 3. Prepare a depreciation schedule using the straight-line method. Answer is complete but not entirely correct. Year 2022 2023 GREAT ADVENTURES End of Year Amounts Depreciation Accumulated Expense Depreciation $ 1,250 $ 1,250 $ 1,250 X 2,500 1,250 X 3,750 % 5,000 X 1.250 X 6,250 X 1,250 7,500 X $ 7,500 2024 Book Value 10.750 X 9,500 X 8,250 X 7,000 X 5,750 4,500 1,250 2025 2026 2027 Total