Piccadilly Pizza bought a used Ford delivery van on January 2, 2018, for $18,000. The van was expected to remain in service for four years (41,750 miles). At the end of its useful life, Piccadilly management estimated that the van's residual value would be $1,300. The van traveled 13,000 miles the first year, 11.250 mies the second year, 10.250 miles the third year, and 7250 miles in the fourth year. Read the requirements Requirement 1. Prepare a schedule of depreciation expense per year for the van under the three depreciation methods. (For units of production and double-declining balance methods, round to the nearest two decimal places after each step of the calculation. For years with $0 depreciation, make sure to enter "O' in the appropriate column) Units-of. Double-Declining- Year Straight-Line Production Balance 2018 2019 2020 2021 Total Requirement 2. Which method best tracks the wear and tear on the van? The method tracks the wear and tear on the van most closely depreciation, and thus, the Requirement 3. Which method would Piccadilly prefer to use for income tax purposes? Explain your reasoning in detail For income tax purposes, Piccadilly's would prefer the method because it provides the deductions in the early life of the asset