On January 1, 2024, 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 144,000 miles.

Required:

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

3. Units of production using miles driven as a measure of output, and the following actual mileage:

Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.

Year Miles Depreciation

2024 34,000

2025 20,000

2026 27,000

2027 32,000

2028 33,000

Total