on january $12024$ the excel delivery comapny purchased w delivery van for $34200$ at the end of its five year service life it is estimated that the van will be worth $3,000$ during the five year period the comapny expects to drive the van $104000$ miles Content

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Exercise $11-1($Algo$)$ Depreciation methods $[$LO$11-2]$

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On January $1,2024,$ the Excel Delivery Company purchased a delivery van for $$34,200.$ At the end of its five$-$year service life, it is estimated that the van will be worth $$3,000.$ During the five$-$year period, the company expects to drive the van $104,000$ miles.

Required:

Calculate annual depreciation for the five$-$year life of the van using each of the following methods.

Exercise $11-1($Algo$)$ Part $2$

$2.$ Double$-$declining balance.

Note: Round your answers to the nearest whole dollar amount.

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Craw

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