Cookie Creations 1O a-b,c,e (Part Level Submission) Natalie is thinking of buying a van that will be used only for business. The cost of the van is estimated at $36,500. 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 mlxer 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 about 5 years, and she expects to drive it for 200,000 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 $7,500. Assume that she will buy the van on August 15, 2020, and it will be ready for use on September 1, 2020. Natalle 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 depreclation. Your answer is correct. Determine the cost of the van. Cost of the van 40500.0 Click if you would like to Show Work for this question: Open Show Work SHOW SOLUTIONSHOW ANSWER LINK TO TEXI Attempts: 2 of 2 used Your answer is partlally correct. Try agaln. Prepare three depreciation tables for 2020, 2021 and 2022: one for straight-line depreciation (similar to the one in Illustration 10-9), one for double-declining balance depreciation (Ilustration 10- 10), and one for units-of-activity depreciation (Illustration 10-11). For units-of-activity, Natalie estimates she will drive the van as follows: 15,000 miles in 2020; 45,000 miles in 2021; 50,000 mlles In 2022; 50,000 miles In 2023 and 40,000 mlles In 2024. Recall that Cookle Creations has a December 31 year-end. (Round depreclation cost/unit to 3 decimal places, e.g. 0.225.) Straight-line depreciation Depreciable Costs Depreciation Expense Accumulated Depreciation Net Book Value Year 152850 44350 2020 3850 44350 2021 6600 6600 50950 50950 2022 660 6600 57550 57550 Double-declining-balance depreciation Year NBV (Beg. of Year) Depreciation Expense Accumulated Depreciation Net Book Value 62559 40500 4725 4725 2020 35775 2021 35775 19035 14310 16740 2022 16740 6686 25731 10044 Units-of activity depreciation Year Units of Activity Depreciation Expense Accumulated Depreciation Net Book Value Units of Activity Depreciation Expense Accumulated Depreciation Net Book Value Year 2020 2550 2550 15000 37950 2021 30300 7650 10200 45000 2022 50000 8500 18700 21800 Click if you would like to Show Work for this question: Open Show Work