Iverson Company purchased a delivery truck for $45,000 on January 1, 2021.The truck was assigned an estimated useful life of 100,000 miles and has a residual value of $10,000.The truck was driven 18,000 miles in 2021 and 22,000 miles in 2022.Compute depreciation expense using the units-of-activity method for the years 2021 and 2022.
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