On January 2, 2024, Trusty Delivery Service purchased a truck at a cost of $67,000. Before placing the truck in service, Trusty spent $2,500 painting it, $600 replacing tires, and $4,600 overhauling the engine. The truck should remain in service for five years and have a residual value of $5,100. The truck's annual mileage is expected to be 20,000 miles in each of the first four years and 12,800 miles in the fifth year 92,800 miles in total. In deciding which depreciation method to use, Harold Parker, the general manager, requests a depreciation schedule for each of the depreciation methods (straight-line, units-of-production, and double-declining-balance). Read the requirements. 12-31-2024 12-31-2025 12-31-2026 12-31-2027 12-31-2028 $ Before completing the units-of-production expense per unit to two decimal places.) Cost 74,700 Date 1-2-2024 S 12-31-2024 12-31-2025 12-31-2026 12-31-2027 12-31-2028 69,600 - 69,600. 69,600 - 69.600. 69,600. 60,780 46,860 5 years 5 years 5 years 5 years 32,940 19,020 5 years 5,100 depreciation schedule, calculate the depreciation expense per unit. Select the formula, then enter the amounts and calculate the depreciation expense per unit. (Round depreciation Depreciation for the Year Number of Units Residual value 5,100 ($ Prepare a depreciation schedule using the units-of-production method. (Enter the depreciation per unit to two decimal places, $X.XX.) Units-of-Production Depreciation Schedule Asset Depreciation Cost Per Unit 74,700 x X Requirements = 13,920 S 13,920 13,920 13,920 13,920 = = Useful life in units 92,800 13,920 27,840 41,760 55,680 69,600 Depreciation per unit 0.75 Depreciation Accumulated Expense Depreciation $ Book Value 74,700 1. Prepare a depreciation schedule for each depreciation method, showing asset cost, depreciation expense, accumulated depreciation, and asset book value. 2. Trusty prepares financial statements using the depreciation method that reports the highest net income in the early years of asset use. Consider the first year that Trusty uses the truck. Identify the depreciation method that meets the company's objectives.