Southern Pizza bought a used Ford delivery van on January 2, 2018, for $19,000. The van was expected to remain in service for four years (68,800 miles). At the end of its useful life, Southern management estimated that the van's residual value would be $1,800. The van traveled 26,500 miles the first year, 23,000 miles the second year, 15,500 miles the third year, and 3,800 miles in the fourth year. Read the requirements 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.) Requirements X 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.) 2. Which method best tracks the wear and tear on the van? 3. Which method would Southern prefer to use for income tax purposes? Explain your reasoning in detail. Print Done Redu lile requirements 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, rour For years with $0 depreciation, make sure to enter "0" in the appropriate column.) Units-of- Double-Declining- Year Straight-Line Production Balance 2018 2019 2020 2021 Total Requirement 2. Which method best tracks the wear and tear on the van? The v method tracks the wear and tear on the van most closely. Requirement 3. Which method would Southern prefer to use for income tax purposes? Explain your reasoning in detail. For income tax purposes, Southern's would prefer the v method because it provides the depreciation, and thus, the V tax deductions in the early life of the asset