A Company Paid $17,000 for a Vehicle That Had an Estimated

question 37

Essay

A company paid $17,000 for a vehicle that had an estimated useful life of 4 years,total capacity of 100,000 miles,and a residual value of $1,000.After 2 full years of using the vehicle (20,000 miles in Year 1 and 27,000 miles in Year 2),the company sold the vehicle for $6,000 and reported a loss on disposal of $3,480.
Required:
Determine the method of depreciation that was used by the company.(Show your work using all three methods. )

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Definitions:

Sexual Harassment

Unsolicited or improper sexual propositions, pleas for sexual benefits, and additional oral or physical sexual harassment.

Bribes

Illicit payments made to influence the actions or decisions of someone in a position of power.

Ethical Dilemma

A situation in which a person is required to choose between two equally problematic alternatives, often involving a conflict of moral principles.

Sexual Harassment

Unwelcome or offensive sexual behavior, which can range from inappropriate jokes to physical assault, that creates a hostile work environment.