A delivery truck was purchased for $120,000 on January 1. It was estimated to have a useful life of 10 years and 200,000 miles with a residual value of $10,000. During the first year, the truck was driven 18,700 miles. Calculate the depreciation expense for the first year, assuming the company uses the units-of-production method. Show your answer as a whole dollar amount.

What is the difference between total utility and marginal utility? a. marginal utility is subject to the law of diminishing marginal utility while total utility is not. b. total utility represents the consumer optimum while marginal utility gives the total utility per dollar spent on the last unit. c. total utility is the total amount of satisfaction derived from consuming a certain amount of a good while marginal utility is the additional satisfaction gained from consuming an additional unit of the good. d. marginal utility represents the consumer optimum while total utility gives the total utility per dollar spent on the last unit.