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 $35,000. At the end of its five-year service life, it is estimated that the van will be worth $2,000. During the five-year period, the company expects to drive the van 110,000 miles. Required: Calculate annual depreciation for the five-year life of the van using each of the following methods. Exercise 11-1 (Algo) Part 1 1. Straight line Straight-line per year N Required information Exercise 11-1 (Algo) Depreciation methods (L011-2] [The following information applies to the questions displayed below) On January 1, 2021, the Excel Delivery Company purchased a delivery van for $35,000. At the end of its five-year service life, it is estimated that the van will be worth $2.000. During the five-year period. the company expects to drive the van 110,000 miles Required: Calculate annual depreciation for the five-year life of the van using each of the following methods Exercise 11-1 (Algo) Part 2 2. Double-declining balance. (Round your answers to the nearest whole dollar amount.) Answer is complete but not entirely correct. Year 2021 2022 2023 2024 Depreciation $ 14,000 8,400 5,040 3,024 1,814 s 32 278 SISISISIX 2025 Total 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 $35,000. At the end of its five-year service life, it is estimated that the van will be worth $2,000. During the five-year period, the company expects to drive the van 110,000 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.) Year Depreciation 2021 2022 Miles 24,000 26,000 17,000 22,000 23,000 2023 2024 2025 Total $ 0