On January 1, 2024, the Excel Delivery Company purchased a delivery van for $43,000. At the end of its five-year service life, it is estimated that the van will be worth $4,000. During the five-year period, the company expects to drive the van 150,000 miles.

Required:

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

Exercise 11-1 (Algo) Part 3

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. 32000

2025. 34000

2026. 25000

2027. 30000

2028. 31000