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Required Information

$[$The following information applles to the questlons displayed below.$]$

On January $1,2024,$ the Excel Dellvery Company purchased a delivery

van for $$35,100.$ At the end of its five$-$year service life, It is estimated that

the van will be worth $$3,000.$ During the five$-$year perlod, the company

expects to drive the van $107,000$ miles.

Required:

Calculate annual depreciation for the five$-$year life of the van using each

of the following methods.

Double$-$declining balance.

Note: Round your answers to the nearest whole dollar amount.