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Please help with all parts of the following question: On January 1, Speedy Delivery Company purchases a delivery van for $29,600. Speedy estimates that at
Please help with all parts of the following question:
On January 1, Speedy Delivery Company purchases a delivery van for $29,600. Speedy estimates that at the end of its four-year service life, the van will be worth $4,800. During the four-year period, the company expects to drive the van 155,000 miles.
Actual miles driven each year were 41,000 miles in year 1 and 45,000 miles in year 2.
Required:
Calculate annual depreciation for the first two years using each of the following methods. (Do not round your intermediate calculations.)
Required information [The following information applies to the questions displayed below.] On January 1, Speedy Delivery Company purchases a delivery van for $29,600. Speedy estimates that at the end of its four-year service life, the van will be worth $4,800. During the four-year period, the company expects to drive the van 155,000 miles. Actual miles driven each year were 41,000 miles in year 1 and 45,000 miles in year 2 . Required: Calculate annual depreciation for the first two years using each of the following methods. (Do not round your intermediate calculations.) 1. Straight-line. 2. Double-declining-balance. 3. Activity-based
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