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A truck acquired at a cost of $69,000 has an estimated residual value of $12,000, has...

A truck acquired at a cost of $69,000 has an estimated residual value of $12,000, has an estimated useful life of 300,000 miles, and was driven 77,000 miles during the year. Determine the following. If required, round your answer for the depreciation rate to 2 decimal places. (a) The depreciable cost $ (b) The depreciation rate $ per mile (c) The units-of-activity depreciation for the year $

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Answer #1
Depreciable cost(Cost-Residual value)(69000-12000) 57,000
Depreciation rate(Depreciable cost/Units of activity)(57000/300,000) 0.19
units-of-activity depreciation (0.19*77000) 14630
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