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On January 1, 2024, the Excel Delivery Company purchased a delivery van for $35,400. At the end of its five-year life, it is estimated

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On January 1, 2024, the Excel Delivery Company purchased a delivery van for $35,400. At the end of its five-year life, it is estimated that the van will be worth $3,000. During the five-year period, the company expects to drive the van 108,000 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. Depreciation Year Miles 2024 23,600 2025 25,600 2026 16,600 2027 28,000 2028 16,200 Total $ 0

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