Required information 3 [The following information applies to the questions displayed below] wok On January 1, 2021, the Excel Delivery Company purchased a delivery van for $52,000. At the end of its five-year service life, it is estimated that the van will be worth $4,000. During the five-year period, the company expects to drive the van 166,000 miles Required: Calculate annual depreciation for the five-year life of the van using each of the following methods. 2. Double-declining balance. (Round your answers to the nearest whole dollar amount.) Year 2021 Depreciation $ 20,800 2022 12,480 2023 7,488 erences 2024 4.493 2025 Total $ 45.261