GUDS13-Greater Understanding DeviceS When complete, fold paper and write name, GUDS13, and section on top right corner. Hand in before leaving class. Speedy Delivery Co purchases a delivery van on Jan. 1st for $58,000. Speedy estimates that at the end of its 4-yr service life, the van will be worth $4,000 During the 4-yr period, the company expects to drive the van 120,000 miles. The first year, Speedy drove the van 24,000 miles. Calculate annual depreciation for the 4-yr life using: 1. Straight-line method 3. Activity based method