Required information Exercise 11-1 (Algo) Depreciation methods (LO11-2] [The following information applies to the questions displayed below.) On January 1, 2021, the Excel Delivery Company purchased a delivery van for $51,000. 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 120,000 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 3. Units of production using miles driven as a measure of output, and the following actual mileage: (Do not round intermediate calculations.) Depreciation Year 2021 2022 Miles 26,000 28,000 19,000 24,000 25,000 2023 2024 2025 Total