If a dump truck for hauling coal has an estimated net cost of $88,000 and...
70.2K
Verified Solution
Link Copied!
Question
Accounting
If a dump truck for hauling coal has an estimated net cost of $88,000 and is expected to give service for 250,000 miles, resulting in a salvage value of $5,500, what would be the depreciation per mile? Compute the allowed depreciation amount for the same truck's usage amounting to 27,000 miles. The depreciation per mile would be $0.38. (Round to the nearest cent.) The allowed depreciation amount for the same truck's usage amounting to 20,000 miles would be $7,600. (Round to the nearest dollar.)
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
If a dump truck for hauling coal has an estimated net cost of $88,000 and is expected to give service for 250,000 miles, resulting in a salvage value of $5,500, what would be the depreciation per mile? Compute the allowed depreciation amount for the same truck's usage amounting to 27,000 miles. The depreciation per mile would be $0.38. (Round to the nearest cent.) The allowed depreciation amount for the same truck's usage amounting to 20,000 miles would be $7,600. (Round to the nearest dollar.) 