Molly's Mobile Pet Grooming Service recently purchased a cargo van for $28,900. For depreciation purposes, the van is expected to to have a useful life of 120,000 miles and have a trade-in value of...

Molly's Mobile Pet Grooming Service recently purchased a cargo van for $28,900. For depreciation purposes, the van is expected to to have a useful life of 120,000 miles and have a trade-in value of $3500. Molly uses the units-of-production method to calculate depreciation.


What is the depreciation per mile?Round to the nearest tenth of a cent when necessary.

$




Molly drives her van 30,000 miles in the first year.
What is the book value of the van at the end of the first year?


$




What is the annual depreciation in a year when the van is driven 42,000 miles?
$