Question 35 1.67 pts Braden Corporation uses the units-of-production method of depreciation. It purchased an automobile costing $63,000 with a salvage value of $3,000. The car is expected to last for 300,000 miles. In the first year, the automobile is driven 70,000 miles. In the second year, the automobile is driven 75,000 miles. Which of the following is true? Depreciation expense in the first year is $14,700. O The depreciation rate is $.21 per mile. Accumulated depreciation at the end of the second year is $29.000, Depreciation expense in the second year is $16,000 The estimated life of the automobile is 8 years, 1.67 pts Question 36 Lucy Corporation purchased 1.000 shares of Marcy Company for $8 per share on August 15, 2017. On December 31, 2017, Marcy's stock was selling for $10 per share. On November 8, 2018, Lucy sold all of its shares of Marcy for $7 per share. Which of the following would have been the amount of investment in Marcy reported on the December 31, 2017 balance sheet? O $10,000 O $8,000 O $7,000 $3,000