Question 1 Ivan Manufacturing purchased equipment and a delivery van on January 1, 2020. The equipment cost $430,000 and has an estimated useful life of 25 years with a residual value of $30,000. The delivery van cost $73,500 and has an estimated life of 4 years or 125,000 kilometres and a residual value of $5,000. The delivery truck is expected to be driven 15,500 and 45,000 kilometres in 2020 and 2021, respectively. Required 1. Ivan has decided to depreciate the equipment using either the straight-line method or double declining method. Calculate depreciation for the equipment for 2020 and 2021 using the straight-line method AND the double declining method 2. Ivan has decided to depreciate the delivery van using the units-of-production method. Calculate depreciation for the delivery truck for 2020 and 2021. 2020 Depreciation 2021 Depreciation Requirement #1 Equipment - Straight-line method Equipment - Double-Declining method Assignment 4 - Chapter 6 COM204 -Fall 2020 Requirement #2 Delivery Van - Units-of-Production