CALCULATOR PRINTER VERSION 4 BACK NEXT Continuing Cookie Chronicle 9 Part 02 (Part Level Submission) Natalie is also thinking of buying a van that will be used only for business. The cost of the van is estimated at $38,500. Natalie would spend an additional $2,500 to have the van painted. In addition, she wants the back seat of the van removed so that she will have lots of room to transport her mixer inventory as well as her baking supplies. The cost of taking out the back seat and installing shelving units is estimated at $1,500. She expects the van to last her about 5 years, and she expects to drive it for 100,000 miles. The annual cost of vehicle insurance will be $2,400. Natalie estimates that at the end of the 5-year useful life the van will sell for $6,500. Assume that she will buy the van on August 15, 2021, and it will be ready for use on September 1, 2021. Natalie is concerned about the impact of the van's cost on her Income statement and balance sheet. She has come to you for advice on calculating the van's depreciation (a) your answer is correct. Determine the cost of the van. Cost of van 42,500.00 Click If you would like to Show Work for this question Open Show Work SHOW SOLUTION LINK TO TEXT Attempts: 1 of 2 used (b) El your answer is partially correct. Try again Prepare a depreciation table for straight-line depreciation. Recall that Cookie Creations has a December 31 fiscal year-end, so annual depreciation depreciation will have to be prorated for the portion of the year the van is used in 2021 and 2026. End of Year Depreciable Cost Annual Depreciation Expense Accumulated Depreciation Book Value Year 6500.00 Your answer is partially correct. Try again. Prepare a depreciation table for straight-line depreciation. Recall that Cookie Creations has a December 31 fiscal year-end, so annual depreciation depreciatio will have to be prorated for the portion of the year the van is used in 2021 and 2026. End of Year Year Depreciable Cost Annual Depreciation Expense Accumulated Depreciation Book Value 6500.00 2021 36000.00 2400.00 2400.00 40100.00 2022 36000.00 7200.00 9600.00 32900.00 2023 36000.00 7200.00 16800.00 25700.00 2024 36000.00 7200.00 24000.00 18500.00 2025 36000.00 7200.00 31200.00 11300,00 2026 36000.00 7200.00 36000.00 6500.00 38,400 Click if you would like to Show Work for this question: Open Show Work