re Plant Assets, Natural Resources, & Intangibles Compute depreciation using straight-line method with residual value The following is given for Favorite purchase of a used van for use in its business on January 1, 2017 Van's purchase price S 17,000 Van's residual value $ 1,400 Van's useful life 4 years Expected miles in 2017 16,000 Expected miles in 2018 19,000 Expected miles in 2019 17.000 Expected miles in 2020 48,000 Total expected miles 100,000 Use the blue shaded areas on the ENTERANSWERS tab for inputs. Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be marked wrong Requirement Using the straight-line method of depreciation, calculate the depreciation expense, accumulated depreciation balance, and book value for each of the four years of the van's useful life. Enter all amounts as positive values. Do not use a minus sign or parentheses for any values to be subtracted. a Using the straight-line method of depreciation, calculate the depreciation expense, accumulated depreciation balance, and book value for each of the four years of the van's useful life. (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be marked wrong.) Depreciation expense Accumulated depreciation Book value Year Start 2017 2018 2019 2020