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Little Town Pizza bought a used Ford delivery van on January 2, 2021, for $18,000. The van was expected to remain in service for four

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Little Town Pizza bought a used Ford delivery van on January 2, 2021, for $18,000. The van was expected to remain in service for four years ( 41,750 miles). At the end of its useful life, Little Town management estimated that the van's residual value would be $1,300. The van traveled 13,000 miles the first year, 11,250 miles the second year, 10,250 miles the third year, and 7,250 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.) Requirements 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 Little Town prefer to use for income tax purposes? Explain your reasoning in detail

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