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Required information [The following information applies to the questions displayed below.) On January 1, 2021, the Excel Delivery Company purchased a delivery van for $30,000.
Required information [The following information applies to the questions displayed below.) On January 1, 2021, the Excel Delivery Company purchased a delivery van for $30,000. 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 132,000 miles. Required: Calculate annual depreciation for the five-year life of the van using each of the following methods. 3. Units of production using miles driven as a measure of output, and the following actual mileage: (Do not round intermediate calculations.) 6,341 Year Miles Depreciation 2021 20,000 4,091 2022 10,000 2,045 2023 31,000 2024 36,000 7,364 2025 37,000 7,568 X $ 27,409 *Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points deducted. Total
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