3. Chubbyville purchases a delivery van for $23,500. Chubbyville estimates that at the end of its four-year service life, the van will be worth $2,500. During the four-year period, the company expects to drive the van 105,000 miles. Calculate annual depreciation for the four-year life of the van using each of the following methods. Round all amounts to the nearest dollar. [10] a. Activity-based. Actual miles driven each year were 24,000 miles in Year 1; 26,000 miles in Year 2; 22,000 miles in Year 3; and 25,000 miles in Year 4. Note that actual total miles of 97,000 fall short of expectations by 8,000 miles. 4. Court Casuals has 100,000 shares of common stock outstanding as of the beginning of 2012 and has the following transactions affecting stockholders' equity in 2012. 10 May 18 May 31 July 1 Issues 25,000 additional shares of S1 par value common stock for $40 per share. Repurchases 5,000 shares of treasury stock for $45 per share. Declares a cash dividend of $1 per share to all stockholders of record on July 15. Hint: Dividends are not paid on treasury stock. Pays the cash dividend declared on July 1. Reissues 2,500 shares of treasury stock purchased on May 31 for $46 per share. July 31 August 10