A truck acquired at a cost of $295,000 has an estimated residual value of $15,000,...
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Accounting
A truck acquired at a cost of $295,000 has an estimated residual value of $15,000, has an estimated useful life of 40,000 miles, and was driven 3,600 miles during the year. Determine the following. If required, round your answer for the depreciation rate to two decimal places.
(a) The depreciable cost $fill in the blank
(b) The depreciation rate $fill in the blank
(c) The units-of-activity depreciation for the year $fill in the blank
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