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On January 1, 2016, the Excel Delivery Company purchased a delivery van for $45,000. At the end of its five-year service life, it is estimated

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On January 1, 2016, the Excel Delivery Company purchased a delivery van for $45,000. 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 120,000 miles. Required: Calculate annual depreciation for the five-year life of the van using each of the following methods. (Do not round intermediate calculations.) Straight line. Sum-of-the-years' digits. Double-declining balance. Units of production using miles driven as a measure of output, and the following actual mileage

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