Molly's Mobile Pet Grooming Service recently purchased a cargo van for $26,700. For depreciation purposes, the van is expected to to have a useful life of 10 years and have a trade-in value of $4000. Molly uses the double-declining-balance method to calculate depreciation. What is the book value at the end of the first year? $ What is the accumulated depreciation by the end of the second year? What is the annual depreciation in the third year? Hint: A depreciation table (like the one below) is helpful when solving problems involving accelerated depreciation methods, such as double-declining balance. You do not have to fill in the entire table; just the portions needed to answer the questions posed. For double-declining balance, the annual depreciation rate is 2 x End of Year Annual Accumulated Depreciation Depreciation Book Value 1 2 3 Useful life