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A new van was purchased for $40,000 and was estimated to have a life of...

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Accounting

A new van was purchased for $40,000 and was estimated to have a life of 4 years or
110,000 miles; trade-in (residual) value is estimated to be $4,800. In the fir year, the
van was driven for 27,500 miles.
a. Use the unit-of-production method to determine the depreciation per mile (unit).
b. What is the total depreciation expense for the first year?
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Accounting