Required information Skip to question [The following information applies to the questions displayed below.] On January 1, 2021, the Excel Delivery Company purchased a delivery van for $50,000. At the end of its five-year service life, it is estimated that the van will be worth $5,000. During the five-year period, the company expects to drive the van 115,000 miles. Required: Calculate annual depreciation for the five-year life of the van using each of the following methods. rev: 05_15_2019_QC_CS-168776, 11_22_2019_QC_CS-191707 3. Units of production using miles driven as a measure of output, and the following actual mileage: (Do not round intermediate calculations.)

Required information (The following information applies to the questions displayed below.) On January 1, 2021, the Excel Delivery Company purchased a delivery van for $50,000. At the end of its five-year service life, it is estimated that the van will be worth $5,000. During the five-year period, the company expects to drive the van 115,000 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.) Depreciation Year 2021 2022 2023 2024 2025 Total $ 0 3. Units of production using miles driven as a measure of output, and the following actual mileage: (Do not round intermediate calculations.) Year Miles Depreciation 2021 2022 25,000 27,000 18,000 23,000 2023 2024 2025 24,000 Total $ 0