Problem 3 Keir Corporation purchased a delivery vehicle on April 1, 2020. The vehicle cost $60,000 and management estimates the residual value at the end of its seven-year useful life will be $4,000 It is estimated the vehicle will be driven for 280,000 kilometers over its useful life. Required: 1. Calculate depreciation for 2020, 2021, and 2022 under the following methods, using the: a. Straight-line method b. Double diminishing balance method, using the straight line rate C. Units of production method, assuming the vehicle was driven 25,500 kms in 2020, 46,000 kms in 2021, and 47,500 kms in 2022. 2. Prepare journal entries for 2020, 2021, and 2022 for each depreciation method. 3. Show presentation on the statement of financial position in 2020, 2021, and 2022 under each method