11:53 SS M all 90%| Exercise Set A Updates Available Update Click below to use the most recent version of this software. what amount did Jada expense for the year? EA3. LO 11.3 Montello Inc. purchases...

Extracted text: 11:53 SS M all 90%| Exercise Set A Updates Available Update Click below to use the most recent version of this software. what amount did Jada expense for the year? EA3. LO 11.3 Montello Inc. purchases a delivery truck for $15,000. The truck has a salvage value of $3,000 and is expected to be driven for eight years. Montello uses the straight-line depreciation method. Calculate the annual depreciation expense. EA4. LO 11.3 Montello Inc. purchases a delivery truck for $15,000. The truck has a salvage value of $3,000 and is expected to be driven for 120,000 miles. Montello uses the units-of- production depreciation method and in year one it expects to use the truck for 23,000 miles. Calculate the annual depreciation expense. EA5. LO 11.3 Steele Corp. purchases equipment for $25,000. Regarding the purchase, Steele recorded the following transactions: • Paid shipping of $1,000 • Paid installation fees of $2,000 Pays annual maintenance cost of $200 • Received a 5% discount on $25,000 sales price Determine the acquisition cost of the equipment. II