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QUESTION
Brief Exercise 10-7 (Part Level Submission) Rosco Taxi Service uses the units-of-activity method in computing depreciation on its taxicabs. Each cab...
Brief Exercise 10-7 (Part Level Submission)
Show more Rosco Taxi Service uses the units-of-activity method in computing depreciation on its taxicabs. Each cab is expected to be driven 140,000 miles. Taxi no. 10 cost $30,000 and is expected to have a salvage value of $300. Taxi no. 10 is driven 28,000 miles in year 1 and 18,000 miles in year 2.
(a1)Calculate depreciation cost per mile using unit-of-activity method. (Round answer to 2 decimal places, e.g. 0.50.)
Depreciation cost$__________per mile
