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Vert Ltd. purchased a vehicle on 1 January 208 for $70,000 and began to use...

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Accounting

Vert Ltd. purchased a vehicle on 1 January 208 for $70,000 and began to use it immediately. The estimated physical life of the vehicle is 20 years, but the estimated useful life to Vert is 10 years. The vehicle has an estimated residual value of $7,000. The vehicle is anticipated to be driven for 200,000 kilometres, and was driven 43,000 kilometres in 208 and 49,000 kilometres in 209.
Required:
Calculate depreciation expense for 208 and 209 using the straight-line method, units of production, and declining balance using a rate of 50%.
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