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Exercise $11-1($Algo$)$ Depreciation methods $[$LO$11-2]$

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On January $1,2024,$ the Excel Delivery Company purchased a delivery van for $$33,750.$ At the end of its five$-$year service

life, it is estimated that the van will be worth $$3,000.$ During the five$-$year period, the company expects to drive the van

$102,500$ miles.

Required:

Calculate annual depreciation for the five$-$year life of the van using each of the following methods.

Exercise $11-1($Algo$)$ Part $3$

Units of production using miles driven as a measure of output, and the following actual mileage:

Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.