Question: On May 1 , 2 0 2 3 , a company purchased a car to be used by the Sales Department. The car cost

On May 1,2023, a company purchased a car to be used by the Sales Department. The car cost \(\$ 40,000\) and had an estimated residual value of \(\$ 8,000\). The car is expected to be used for 5 years or 100,000 miles. In 2023, the car was driven 12,000 miles and it was driven 18,000 miles in 2024. In each of the following independent cases, compute the depreciation expense for 2023 and 2024. You are not required to do a journal entry and you are not required to compute the accumulated depreciation at the end of 2024. Round your answers to the nearest whole dollar.
A. Assume that the company uses straight-line depreciation
B. Assume that the company uses double declining balance depreciation.
C. Assume that the company uses the activity method for depreciation.
On May 1 , 2 0 2 3 , a company purchased a car to

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