Depreciation Calculations Letha Enterprises purchased a new van on January 1, 2008, for $35,000. The estimated life of the van was four years or 76,000 miles, and its salvage value was estimated to be $3,000.

Compute the amount of depreciation expense for 2008, 2009, and 2010 using the following methods:

1. Double-declining-balance.

2. 175% declining-balance.

3. Sum-of-the-years’-digits.