Homework: Pre-Chapter 7 Homework Save Score: 0 of 15 pts 9 of 17 (14 complete) HW Score: 51%, 51 of 100 pts S7-11 (similar to) Question Help Odell purchased a used van for use in its business on January 1, 2017. It paid $17,000 for the van. Odell expects the van to have a useful life of four years, with an estimated residual value of $1,400. Odell expects to drive the van 40,000 miles during 2017, 25,000 miles during 2018, 11,000 miles in 2019, and 24,000 miles in 2020, for total expected miles of 100,000. Read the requirements (Complete all answer boxes. Enter a "0" for any zero values. Use three decimal places for the depreciation cost per mile.) Units-of-production method A Requirements Annual Depreciation Expense Accumulated Depreciation Year Book Value Using the units-of-production method of depreciation (with miles as the production unit), calculate the following amounts for the van for each of the four years of its expected life (do not round here; use three decimal places for the depreciation cost Start 2017 per mile): 2018 a. Depreciation expense b. Accumulated depreciation balance C. Book value 2019 2020 Print Done Enter any number in the edit fields and then click Check Answer. All parts showing Clear All Check Answer Previous Next