! Required information [The following information applies to the questions displayed below.] On January 1, 2024, the Excel Delivery Company purchased a delivery van for $33,000. 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 100,000 miles. Required: Calculate annual depreciation for the five-year life of the van using each of the following methods. 2. Double-declining balance. Note: Round your answers to the nearest whole dollar amount. Year Depreciation 2024 $ 13,200 2025 7,920 2026 4,752 2027 2,851 2028 Total $ 28,723 1. Straight line. Straight-line $ 6,000 per year