8 Required information [The following information applies to the questions displayed below.) Part 1 of 2 1.66 points On January 1, 2021, the Excel Delivery Company purchased a delivery van for $44,000. At the end of its five-year service life, it is estimated that the van will be worth $2,000. During the five-year period, the company expects to drive the van 155,000 miles. Required: Calculate annual depreciation for the five-year life of the van using each of the following methods. 2. Double-declining balance. (Round your answers to the nearest whole dollar amount.) Answer is complete but not entirely correct. Year 2021 2022 Depreciation 17,600 10,560 6,336 3,802 2,281 x 2023 2024 2025 Total $ 40,579 9 ! Required information Part 2 of 2 2012 (The following information applies to the questions displayed below.) On January 1, 2021, the Excel Delivery Company purchased a delivery van for $44,000. At the end of its five-year service life, it is estimated that the van will be worth $2,000. During the five-year period, the company expects to drive the van 155,000 miles. 1.66 points Required: Calculate annual depreciation for the five-year life of the van using each of the following methods. 3. Units of production using miles driven as a measure of output, and the following actual mileage: (Do not round intermediate calculations.) X Answer is complete but not entirely correct. Year Miles 2021 2022 33,000 35,000 26,000 2023 Depreciation 8,910 9,450 7,020 8,370 8,640 42,390 31,000 2024 2025 32,000 Total