! Required information [The following information applies to the questions displayed below.) On January 1, Speedy Delivery Company purchases a delivery van for $90,000.
! Required information [The following information applies to the questions displayed below.) On January 1, Speedy Delivery Company purchases a delivery van for $90,000. Speedy estimates that at the end of its six- year service life, the van will be worth $30,000. During the six-year period, the company expects to drive the van 200,000 miles. Actual miles driven each year were 32,000 miles in year 1 and 35,000 miles in year 2. Required: Calculate annual depreciation for the first two years using each of the following methods. (Do not round your intermediate calculations.) 1. Straight-line. Year 1 2 Annual Depreciation
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