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3. Actual miles driven each year were 19,000 miles in Year 1; 29,000 miles in Year 2; 24,000 miles in Year 3; and 26,000 miles

3. Actual miles driven each year were 19,000 miles in Year 1; 29,000 miles in Year 2; 24,000 miles in Year 3; and 26,000 miles in Year 4. Note that actual total miles of 98,000 fall short of expectations by 10,000 miles. Calculate annual depreciation for the four-year life of the van using activity-based. (Round your depreciation rate to 2 decimal places.)

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