Exercise 14.4 Depreciation methods No GST) Nevertire Ltd purchased a delivery van costing S52 000. It is expected to have a residual value of S12 000 at the end of its useful life of 4 years or 200 000 kilometres. Ignore GST. Required (a) Assume the van was purchased on 2 July 2019 and that the accounting period ends on 30 June. Calculate the depreciation expense for the year 2019-20 using each of the following depreciation methods i. straight-line ii. diminishing balance iii. units of production (assume the van was driven 78 000 kilometres during the financial year) (b) Assume the van was purchased on 1 October 2019 and that the accounting period ends on 30 June. Calculate the depreciation expense for the year 2019-20 using each of the following depreciation methods i. straight-line ii. diminishing balance iii. units of production (assume the van was driven 60 000 kilometres during the financial year)