Rural Pizza bought a used Toyota delivery van on January 2, 2016, for $18,600. The van was expected to remain in service for four years (57,000 miles). At the end of its useful life, Rural officials estimated that the van's residual value would be $1,500. The van traveled 20,500 miles the first year, 16,000 miles the second year, 15,400 miles the third year, and 5,100 miles in the fourth year. Requirements 1. Prepare a schedule of depreciation expense per year for the van under the three depreciation methods. 2. Which method best tracks the wear and tear on the van? 3. Which method would Rural prefer to use for income tax purposes? Explain in detail why Rural would prefer this method. Requirement 1. Prepare a schedule of depreciation expense per year for the van under the three depreciation methods. (For units-of-production and double-declining-balance methods, round to the nearest two decimal places after each step of the calculation. For years with $0 depreciation, make sure to enter "0" in the appropriate column.) Units-of- Production Double-Declining- Balance Year Straight-Line 2016 2017 2018 2019 Total Requirement 2. Which method best tracks the wear and tear on the van? The method tracks the wear and tear on the van most closely. Requirement 3. Which method would Rural prefer to use for income tax purposes? Explain in detail why Rural would prefer this method. For income tax purposes, Rural's would prefer the V method because it provides the depreciation, and thus, the | tax deductions in the early life of the asset