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Speedy Delivery Service bought two new trucks. The following table shows the cost, scrap value,...

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Accounting

Speedy Delivery Service bought two new trucks. The following table shows the cost, scrap value, estimated life (in miles), and mileage for the first year. Using the straight-line method based on mileage driven, compute the first year's depreciation and the book value at the end of the first year for each truck. Do not round intermediate calculations. Round final answer to the nearest whole dollar.

Original Cost Scrap Value Estimated Life (miles) Mileage for First Year Depreciation for First Year Book Value after 1 Year
a. $52,100 $2,500 160,000 21,400 $ $
b. $23,000 $600 80,000 16,500 $ $

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