Depreciation expense per mile = (Cost of van - Salvage value)/Estimated miles
= (153,000 - 15,600)/458,000
= 137,400/458,000
= $0.3
Year | Miles | Depreciation |
2021 | 52,000 | 52,000 x 0.3 = $15,600 |
2022 | 62,000 | 62,000 x 0.3 = $18,600 |
2023 | 55,000 | 55,000 x 0.3 = $16,500 |
2024 | 45,000 | 45,000 x 0.3 = $13,500 |
2025 | 48,000 | 48,000 x 0.3 = $14,400 |
Total | $78,600 |
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