Finx, Inc. purchased a truck for $35,000. The truck is expected to be driven 15,000 miles per year over a five-year period and then sold for approximately $5,000.

a.

Determine depreciation for the first year of the truck's useful life by the straight-line method if the truck is actually driven 16,000 miles. (Omit the "$" sign in your response.)

Straight-line depreciation $

b.

Determine depreciation for the first year of the truck's useful life by the units-of-output method if the truck is actually driven 16,000 miles. (Omit the "$" sign in your response.)

Units-of-output depreciation $ ( I did figure out this part which is: $6400)

you have to take the question at face value and avoid the excess verbage. Focus on what is important

you have to take the question at face value and avoid the excess verbage. focus on what is important

Thank you again for your help. Do you think I should use the following formula:

Depreciation = Cost − Salvage Value / Life in Number of Periods

Thank you again for your help. Do you think I should use the following formula:

Depreciation = Cost − Salvage Value / Life in Number of Periods

That is one formula.