On January 1,2015,a corporation acquired a truck for $600,000.The residual value was estimated to be $20,000.The truck can be driven for 50,000 miles over the next 3 years.The actual usage of the truck was 8,640 miles for the first year.Calculate the rate of depreciation to be applied,and depreciation for the first year using the units-of-production method.(Do not round your intermediate calculations).

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The Answer of On January 1,2015,a corporation acquired a truck for $600,000.The residual value was estimated to be $20,000.The truck can be driven for 50,000 miles over the next 3 years.The actual usage of the truck was 8,640 miles for the first year.Calculate the rate of depreciation to be applied,and depreciation for the first year using the units-of-production method.(Do not round your intermediate calculations).

On January 1,2015,a Corporation Acquired a Truck for $600,000