Lemon Corporation purchased a truck at the beginning of 2017 for $109,200. The truck is estimated to have a salvage value of $4,200 and a useful life of 120,000 miles. It was driven 21,000 miles in 2017 and 29,000 miles in 2018. What is the depreciation expense for 2017

the depreciation expense for 2017 is $18,375

Explanation:

The computation of the depreciation expense for 2017 is shown below:

= (Truck cost - salvage value) ÷ useful life in miles × driven miles in year 2017

= ($109,200 - $4,200) ÷ 120,000 miles × 21,000 miles

= $18,375

Hence, the depreciation expense for 2017 is $18,375

Therefore the above formula should be applied for the same

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.