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Calculate the depreciation expense on Taxi

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Reference no: EM133061993

Question - Cullumber uses the units-of-production method to calculate depreciation on its taxicabs. Each cab is expected to be driven 293,500 km over its life. Taxi 10 was purchased on March 1, 2020, for $29,840 and is expected to have a residual value of $490. Taxi 10 was driven 126,190 km in 2020 and 101,730 km in 2021. Cullumber has a December 31 year end. Calculate the depreciation expense on Taxi 10 for 2020 and 2021.

Reference no: EM133061993

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