5. Hatcher Company purchased a delivery van on July 1 of the current year at a cost of $40,000. The van is expected to last five years and has a salvage value of $5,000. The company's annual accounting period ends on December 31. (2 points) 1. What is the depreciation expense for the current year, assuming the straight-line method is used? 2. What is the book value of the van at the end of the first year? (Hint. The book value of this asset at the end of the first year should be a number between $33,000 and $38,000)