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On January 2, 2017, Chair King Co. purchased a new van for $45,000. The van had an expected useful life of six years, and an

On January 2, 2017, Chair King Co. purchased a new van for $45,000. The van had an expected useful life of six years, and an expected salvage value of $15,000. The company expected that in those six years, the van would be driven for 150,000 miles based on the following schedule:

2017 13,000 miles

2018 21,000 miles

2019 28,000 miles

2020 29,000 miles

2021 37,000 miles

2022 22,000 miles

Required:

Assuming a December 31 year-end, prepare a depreciation schedule for the life of the van using:

Straight-line depreciation

Units-of-production depreciation

Double-declining-balance depreciation

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