Deluxe Pizza bought a used Ford delivery van on January 2, 2021, for $21,000. The van was expected to remain in Kservice for four years (47,500 miles). At the end of its useful life, Deluxe management estimated that the van's residual value would be $2,000. The van traveled 15,000 miles the first year, 10,000 miles the second year, 12,500 miles the third year, and 10,000 miles in the fourth year. Read the requirements. Requirement 1. Prepare a schedule of depreciation expense per year for the van under the three depreciation methods. Prepare a schedule of depreciation expense per year for the van under the straight-line method. (Complete all input fields. Enter a 0 for any zero balances.) Year 2021 2022 2023 Straight-Line 2024 Total Prepare a schedule of depreciation expense per year for the van under the units-of-production (UOP) method. (Round any intermediary computations to two decimal places, X.XX, and your final answers to the nearest whole dollar. Complete all input fields. Enter a 0 for any zero balances.) Year UOP 0 0c 0 of t Requirements He Van traveled 15,000 miles the first year, 10,000 miles the second y - 1. Prepare a schedule of depreciation expense per year for the van under the three depreciation methods. (For units-of-production and double-declining-balance methods, round to the nearest two decimal places after each step of the calculation.) 2. Which method best tracks the wear and tear on the van? 3. Which method would Deluxe prefer to use for income tax purposes? Explain your reasoning in detail. Print Done Prepare a schedule of depreciation expense ner year for the youn the three hethod. (C Deluxe Pizza bought a used Ford delivery van on January 2, 2021, for $21,000. The van was expected to remain in Kservice for four years (47,500 miles). At the end of its useful life, Deluxe management estimated that the van's residual value would be $2,000. The van traveled 15,000 miles the first year, 10,000 miles the second year, 12,500 miles the third year, and 10,000 miles in the fourth year. Read the requirements Prepare a schedule of depreciation expense per year for the van under the units-of-production (UOP) method. (Round) any intermediary computations to two decimal places, XXX, and your final answers to the nearest whole dollar. Complete all input fields. Enter a 0 for any zero balances.) Year 2021 UOP 2022 2023 2024 Total Prepare a schedule of depreciation expense per year for the van under the double-declining-balance (DDB) method. (Round any intermediary computations to two decimal places, X.XX, and your final answers to the nearest whole dollar. Complete all input fields. Enter a 0 for any zero balances.) Year 2021 DDB 0 0 of 6 K Deluxe Pizza bought a used Ford delivery van on January 2, 2021, for $21,000. The van was expected to remain in service for four years (47,500 miles). At the end of its useful life, Deluxe management estimated that the van's residual value would be $2,000. The van traveled 15,000 miles the first year, 10,000 miles the second year, 12,500 miles the third year, and 10,000 miles in the fourth year. Read the requirements. Complete all input fields. Enter a U for any zero balances.) Year DDB 2021 2022 2023 2024 Total Requirement 2. Which method best tracks the wear and tear on the van? The method tracks the wear and tear on the van most closely. Requirement 3. Which method would Deluxe prefer to use for income tax purposes? Explain your reasoning in detail. method because it provides the For income tax purposes, Deluxe's would prefer the depreciation, and thus, the tax deductions in the early life of the asset. 0 of 0 of 3 0 of 6 que