Lovell purchased a used van for use in its business on January 1,2017.It paid $12,000 for the van.Lovell expects the van to have a useful life of four years,with an estimated residual value of $900.Lovell expects to drive the van 15,000 miles during 2017, 20,000 during 2018, 11,000 in 2019 and finally 4,000 miles in 2020.The total expect miles are 50,000.

Using Units-of-production method

AL 210 Financial Accounting by Professor UZ- TR-9.55 AM Section Homework: Chapter 7 - HW Score: 0.08 of 1 pt W S7-11 (similar to) Lovell purchased a used van for use in its business on January 1, 2017. It paid $12 during 2017, 20,000 miles during 2018, 11,000 miles in 2019, and 4,000 miles in 2 Read the requirements. (Complete all answer boxes. Enter a "0" for any zero values. Use three decimal pla Units-of-production method Annual Accumulated Depreciation Expense Year Depreciation Book Value Start 2017 2018 2019 2020