Crane uses the units-of-production method to calculate depreciation on its taxicabs. Each cab is expected to be driven 308,000 km over its life. Taxi 10 was purchased on March 1, 2020, for $31,260 and is expected to have a residual value of $460. Taxi 10 was driven 118,760 km in 2020 and 107,530 km in 2021. Crane has a December 31 year end. Calculate the depreciation expense on Taxi 10 for 2020 and 2021.
