Crane Company purchased a truck at the beginning of 2017 for $108200. The truck is estimated...
Crane Company purchased a truck at the beginning of 2017 for $108200. The truck is estimated to have a salvage value of $3200 and a useful life of 131250 miles. It was driven 18000 miles in 2017 and 26000 miles in 2018. What is the depreciation expense for 2017?
14400
20800
35200
Homework Answers
Annual depreciation=(cost-salvage value) /useful life
=(108200-3200) /131250
=$0.8/mile
Hence depreciation for 2017=(0.8*18000)
=$14400
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