A truck acquired at a cost of 365 000 has an estimated

Last updated: 11/14/2023

A truck acquired at a cost of 365 000 has an estimated residual value of 20 350 has an estimated useful life of 61 000 miles and was driven 5 500 miles during t year Determine the following If required round your answer for the depreciation rate to two decimal places a The depreciable cost b The depreciation rate c The units of activity depreciation for the year per mile