O Required Information Exercise 11-1 (Algo) Depreciation methods [LO11-2] (The following information applies to the questions displayed below) On January 1, 2021, the Excel Delivery Company purchased a delivery von for $52,000. At the end of its five-year service life, it is estimated that the van will be worth $1,000. During the five-year period, the company expects to drive the van 135,000 miles. Required: Calculate annual depreciation for the five year life of the van using each of the following methods Exercise 11-1 (Algo) Part 1 1. Straight line Straight line per year