Swifty Corporation purchased a truck at the beginning of 2020 for $109600. The truck is estimated to have a salvage value of $3400 and a useful life of 118000 miles. It was driven 22000 miles in 2020 and 30000 miles in 2021. What is the depreciation expense for 2021? (Round intermediate calculations to 3 decimal places, e.g. 0.245.) O $7080 O $27000 O $46800 O $28729

Swifty Corporation purchased a truck at the beginning of 2020 for $109600. The truck is estimated to have a salvage value of $3400 and a useful life of 118000 miles. It was driven 22000 miles in 2020 and 30000 miles in 2021. What is the depreciation expense for 2021? (Round intermediate calculations to 3 decimal places, e.g. 0.245.) O $7080 O $27000 O $46800 O $28729

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter11: Depreciation, Depletion, Impairment, And Disposal

Section: Chapter Questions

Problem 2RE: Akron Incorporated purchased an asset at the beginning of Year 1 for 375,000. The estimated residual...

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