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Speedy Delivery Company purchases a delivery van for $30,400. Speedy estimates that at the end of its four-year service life, the van will be worth

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Speedy Delivery Company purchases a delivery van for $30,400. Speedy estimates that at the end of its four-year service life, the van will be worth $5,200. During the four-year period, the company expects to drive the van 157,500 miles. Actual miles driven each year were 42,000 miles in year 1 and 46,000 miles in year 2. Required: Calculate annual depreciation for the first two years of the van using each of the following methods. (Do not round your intermediate calculations.) 1. Straight-line Annual Depreciation Year 2 2. Double-declining-balance Annual Depreciation Year 3 Activity-based. Year

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