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On 1/1/21, Lotus Delivery Company purchased a van for $33,000. At the end of its five-year service life, it is estimated that the van will

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On 1/1/21, Lotus Delivery Company purchased a van for $33,000. At the end of its five-year service life, it is estimated that the van will be worth $3,000. Calculate annual depreciation and book value (cost less accumulated depreciation) using double-declining balance. For partial credit, please show work. If you prefer you may copy and paste to a spreadsheet. Book value - beginning of year Depreciation Expense Book Value - end DDB of year 2021 2022 2023 2024 2025 Take care for this year

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