Reference no: EM133074819

Question - Haywood, lnc., purchased a truck to use for deliveries and is attempting to determine how mucl depreciation expense would be recognized under three different methods. The truck cost $24,000 an is expected to have a value of $6,000 at the end of its 6-year life. The truck is expected to be used at the rate of 15,000 miles in the first year, 20,000 miles in the second and third years, and 12,000 mile in each of the fourth, fifth, and sixth years. Determine the amount of depreciation expense that would be recognized under each of the following depreciation methods in the first and second years of the truck's useful life. A full year's depreciation will be recognized in the first year the truck is used. 1. Straight-line.