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Speedy Delivery Company purchases a delivery van for $36,800. Speedy estimates that at the end of its four-year service life, the van will be worth $5,400. During the four-year period, the company expects to drive the van 157,000 miles.

Actual miles driven each year were 42,000 miles in year 1 and 46,000 miles in year 2.

Required:

Calculate annual depreciation for the first two years of the van using each of the following methods. (Do not round your intermediate calculations.)

Speedy Delivery Company purchases a delivery van for $36,800. Speedy estimates that at the end of its four-year service life, the van will be worth $5,400. During the four-year period, the company expects to drive the van 157,000 miles. Actual miles driven each year were 42,000 miles in year 1 and 46,000 miles in year 2. Required: Calculate annual depreciation for the first two years of the van using each of the following methods. (Do not round your intermediate calculations.) 1. Straight-line Year 2. Double-declining-balance. Year Year