#$1$ Van: On January $1,$ Dan purchased a used delivery van for $$30,000.$

The residual value is $$6,000$ and the useful life is $3$ years. Use straight line depreciation.#$2$ Van: January $3,$ Dan purchased a new delivery van for $$52,000.$

The residual value is $$10,000$ and the useful life is $4$ years. Use double declining depreciation.#$3$ Van: On January $4,$ Dan purchased a third vehicle with special equipment installed to meet a client$$s

needs for $$80,000.$ It is estimated it will be driven $120,000$ miles and have a residual

value of $$20,000.$ Use units of production depreciation method. $50,000$ miles are driven the first

year, $35,000$ miles the second year, $25,000$ miles the third year and $20,000$ miles the fourth year.