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Speedy Delivery Company purchases a delivery van for $44.000. 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 $44.000. Speedy estimates that at the end of its four-year service life, the van will be worth $7.200. During the four-year period, the company expects to drive the van 184,000 miles. Actual miles driven each year were 48.000 miles in year 1 and 56.000 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 Year Annual Depreciation 2 2. Double-declining-balance. Year Annual Depreciation 2 3. Activity-based Year Annual Depreciation 1 2

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