Multiple Select Question

Select all that apply

The Black Limo Company $($BLC$)$ purchased a limo on January $1$ of Year $1.$ The limo cost $$48,000,$ with an expected useful life of $4$ years and an $$8,000$ salvage value. BLC expected to drive the limo for $100,000$ miles before disposing of it$.$ Actual miles driven per year was $30,000$ miles in Year $1,40,000$ miles in Year $2,20,000$ miles in Year $3,$ and $25,000$ miles in Year $4.$ Based on this information which of the following statements are true?

The impact on net income will only be constant if the straight$-$line method is used.

The timing of the expense is the only difference between the three methods.

The total amount of accumulated depreciation at the end of Year $4$ is $$40,000,$ regardless of the method used to depreciate the asset.

Depreciation expense is highest in Year $1$ if the units of production method is used.

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