Prepare three depreciation tables for 2022, 2023 and 2024: one for straight-line depreciation (similar to the one in Illustration 10-10), one for double-declining balance depreciation (Illustration 10-14), and one for units-of-activity depreciation (Illustration 10-12). For units-of-activity, Natalie estimates she will drive the van as follows: 17,100 miles in 2022: 51,300 miles in 2023; 57,000 miles in 2024; 57,000 miles in 2025; and 46,350 miles in 2026. Recall that Cookie Creations has a December 31 year-end. (Round depreciation cost/unit to 3 decimal places, e.g. 0.225.) Straight-line depreciation Depreciable Costs Depreciation Expense Accumulated Depreciation Book Value 45000 45000 2440 2440 42560 45000 7320 9760 35240 45000 2320 17060 27920 Double-declining-balance depreciation 3V (Beg. of Year) 45000 Depreciation Expense Accumulated Depreciation Book Value 18000 18000 45000 27000 27000 10800 28800 16200 16200 6480 35280 9720 Units-of activity depreciation Units of Activity 17100 Depreciation Expense Accumulated Depreciation Book Value 45000 2736 2736 42264 51300 8208 10944 34056 57000 9120 20064 24936 Natalie is also thinking of buying a van that will be used only for business. The cost of the van is estimated at $40,000. Natalie would spend an additional $3,000 to have the van painted. In addition, she wants the back seat of the van removed so that she will have lots of room to transport her mixer inventory as well as her baking supplies. The cost of taking out the back seat and installing shelving units is estimated at $2,000. She expects the van to last about 5 years, and she expects to drive it for 228,750 miles. The annual cost of vehicle insurance will be $2,736. Natalie estimates that at the end of the 5-year useful life the van will sell for $8,400, Assume that she will buy the van on August 15, 2022, and it will be ready for use on September 1, 2022. Natalie is concerned about the impact of the van's cost on her income statement and balance sheet. She has come to you for advice on calculating the van's depreciation. Your answer is correct. Determine the cost of the van. Cost of the van $ 45000 Prepare three depreciation tables for 2022, 2023 and 2024: one for straight-line depreciation (similar to the one in Illustration 10-10), one for double-declining balance depreciation (Illustration 10-14), and one for units-of-activity depreciation (Illustration 10-12). For units-of-activity, Natalie estimates she will drive the van as follows: 17,100 miles in 2022; 51,300 miles in 2023; 57,000 miles in 2024: 57,000 miles in 2025; and 46,350 miles in 2026. Recall that Cookie Creations has a December 31 year-end. (Round depreciation cost/unit to 3 decimal places, e.g. 0.225) Straight-line depreciation Depreciable Costs 45000 45000 45000 S Depreciation Expense Accumulated Depreciation Book Value 45000 2440 2440 42560 35240 9760 7320 17080 27920 7320 Double-declining-balance depreciation 3V (Beg. of Year) 45000 Depreciation Expense Accumulated Depreciation Book Value 45000 18000 18000 27000 27000 10800 28800 16200 16200 Units-of activity depreciation Units of Activity 6480 35280 9720 Depreciation Expense Accumulated Depreciation Book Value 45000 17100 2736 2736 42264 8208 10944 34056 51300 Units-of activity depreciation Units of Activity 17100 Depreciation Expense Accumulated Depreciation Book Value 2736 2736 45000 42264 51300 8208 10944 34056 57000 9120 20064 24936