Compute the depreciation expense for the following independent cases. Use the straight-line method of depreciation. Pedro Reyes purchased a delivery vehicle on April 1, 2020 amounting to $250,000. It...

Compute the depreciation expense for the following independent cases. Use the straight-line method of depreciation.



Pedro Reyes purchased a delivery vehicle on April 1, 2020 amounting to $250,000. It is estimated that the vehicle will be useful for 10 years. The vehicle can be sold for $10,000 at the end of its useful life. If the accounting period being reported by Pedro is one (1) year from January - December 2020, how much is the depreciation expense in 2020?