Chapter 9 Homework
Question 4 of 8
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Crane Company purchased a delivery truck for $48,000 on July 1, 2022. The truck has an expected salvage value of $6,000, and is
expected to be driven 100,000 miles over its estimated useful life of 8 years. Actual miles driven were 15,000 in 2022 and 12,000 in
2023. Crane uses the straight-line method of depreciation.
(a)
Your answer is incorrect.
Compute depreciation expense for 2022 and 2023.
Depreciation Expense
2022
2023
Straight-line method
$ 5,250
$ 4,666