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Calculate the depreciation expense on Taxi

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Question - Sunland uses the units-of-production method to calculate depreciation on its taxicabs. Each cab is expected to be driven 296,100 km over its life. Taxi 10 was purchased on March 1, 2017, for $30,120 and is expected to have a residual value of $510. Taxi 10 was driven 121,070 km in 2017 and 96,170 km in 2018. Sunland has a December 31 year end. Calculate the depreciation expense on Taxi 10 for 2017 and 2018.

Reference no: EM132522370

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