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.

use Double-declining balance.