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Concord Company purchased a delivery truck for $26,000 on January 1, 2020. The truck has...

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Accounting

Concord Company purchased a delivery truck for $26,000 on January 1, 2020. The truck has an expected salvage value of $1,160, and is expected to be driven 108,000 miles over its estimated useful life of 8 years. Actual miles driven were 14,800 in 2020 and 15,000 in 2021.

(a1)

Calculate depreciation expense per mile under units-of-activity method. (Round answer to 2 decimal places, e.g. 0.50.)

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