Required information [The following information applies to the questions displayed below.] On January 1, 2021, the Excel Delivery Company purchased a delivery van for $75,000. At the end of its five-year service life, it is estimated that the van will be worth $7,800. During the five-year period, the company expects to drive the van 224,000 miles. Required: Calculate annual depreciation for the five-year life of the van using each of the following methods. 1. Straight line. Straight-line per year 2. Double-declining balance. (Round your answ Depreciation Year 2021 2022 2023 2024 2025 Total 3. Units of production using miles driven as a measure of output, and the following actual mileage: (Do not round intermediate calculations.) Depreciation Year 2021 2022 2023 2024 2025 Miles 36,000 40,000 21,000 28,000 32,000 Total