Question: . . The following information relates to a delivery van purchased by MaiTai's Furniture Emporium: Cost - $26,000 Salvage Value = $1,500 Estimated Useful Life
. . The following information relates to a delivery van purchased by MaiTai's Furniture Emporium: Cost - $26,000 Salvage Value = $1,500 Estimated Useful Life in Years = 5 Years Estimated Useful Life in Miles - 220,000 miles Miles Driven by Year = 40,000 miles (Year 1), 38,000 miles (Year 2). 47.000 (Year 3), 36,000 (Year 4) and 59,000 (Year 5). Part 1 (5 points) Using the units of activity method, what should the balance in the accumulated depreciation account be at the end of year 22 Part II (5 points) Using the double declining balance method (40%), what should the depreciation expense be in year 2? Show Your Work
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