Question 30 (3 points) On 1/1/20 Dragonville purchases a delivery van for $35,000. Dragonville estimates that at the end of its five-year service life, the van will be worth $2,000. The company expects to drive the van for 120,000 miles over the 5 years. Calculate the depreciation expense for the FIRST year using the ACTIVITY BASED method. Actual miles driven each year were 24,000 miles in Year 1; 26,000 miles in Year 2. $1.375 $9,625 $6,600 $7,000