FINANCIAL ACCOUNTING

A company purchases a delivery van for $28,000. The company estimates that at the end of its four-year service life, the van will be worth $4,000. During the four-year period, the company expects to drive the van 120.000 miles. Actual miles driven each year were 33,000 miles in year 1 and 36,000 miles in year 2. Required: Calculate annual depreciation for the first two years of the van using each of the following methods. (Do not round your intermediate calculations.) 12 points 03:5949) 1. Straight-line. Annua Year eBook Print References iati 2. Double-declining-balance Year 1. Straight-line. Annual Depreciation Year 2 1.2 points 03:59:20 2. Double-declining-balance. eBook Print References Annual Depreciation Year 3. Activity-based. Annual Depreciation Year 2 Mc Graw Hill