Briefly discuss two main qualitative characteristics in Australian Accounting Standards Board. Will all qualitative characteristics be met at the same time? State your view. On 1/1/2021, Glitter Balloon company purchased a van for the company at $125,000. The estimated useful life of the van is 5 years and the salvage value after 5 years is $5,000. The straight-line method is been used. Calculate the annual depreciation expenses after the 5 years.