Southern Pizza bought a used Toyota delivery van on January 2, 2016, for $19,200. The van was expected to remain in service for four years (71,200 mles). At the end of its useful life, Southern officials estimated that the van's residual value would be $1,400. The van traveled 28,000 miles the first yoar, 20,500 miles the second year 18,500 miles the third year, and 4,200 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 Southern prefor to use for income tax purposes? Explain in detail why Southern would prefer this method kequirement 1. Prepare a scneauie or oepreciaion expense per year tor the van unoer the three aeprecianion metnoas. (or unts-or-proaucion double-declining-balance methods, round to the nearest two decimal places after each step of the caloulation. For years with $0 depreciation, make sure to enter "O in the appropriate column.) Double-Declining- Balance Units-of Straight-Line Production Year 2016 2017 7,000 2018 4450 4,625 Enter any number in the edit fields and then continue to the next question. 12-57 PM 5/8/2018 e to search