ent NEXT CALCULATOR MESSAGE MY INSTRUCTOR FULL SCREEN PRINTER VERSION BACK Brief

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ent NEXT CALCULATOR MESSAGE MY INSTRUCTOR FULL SCREEN PRINTER VERSION BACK Brief Exercise 11-1 Fernandez Corporation purchased a truck at the beginning of 2014 for $118,500. The truck is estimated to have a salvage value of $4,740 and a useful life of 379,200 miles. It was driven 54,510 miles in 2014 and 73,470 miles in 2015 Compute depreciation expense for 2014 and 2015 Depreciation expense for 2014 s Depreciation expense for 2015 Click if you would like to Show Work for this question: Qnen 5how work INK TO TEXT idy accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor Ouestion Attemnts: 0of 4 used

Explanation / Answer

Depreciation rate = (original cost-savage value)/estimated production

                          = (118500-4740)/379200

Depreciation rate = 0.30 per mile

Depreciation expenses for 2014 = (54510*.30) = $16353

Depreciation expenses for 2015 = (73470*.30) = $22041

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