16. On January 1, 2017, we purchase a motorcycle for $14,000 cash. The motorcycle has...
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16. On January 1, 2017, we purchase a motorcycle for $14,000 cash. The motorcycle has a useful life of 3 years and an estimated residual value of $2,000. The estimated miles driven are 30,000 over its useful life. Miles driven in 2017, 2018, 2019 are 15,000 miles, 10,000 miles, and 5,000 miles miles respectively.
What is depreciation expense each year from 2017 - 2019 using each of the following methods of depreciation?
- Straight-line
- Units-of-production
- Double declining balance
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