TB EX Qu. 7-198 Chubbyville purchases a delivery van... a Chubbyville purchases a delivery van for $22,700. Chubbyville estimates a four year service life and a residual value of $2.200. During the four year period, the company expects to drive the van 107000 miles. Calculate annual depreciation for the four year life of the van using each of the following methods 1. Straight line. 2. Double-declining balance. (Round your depreciation rate to 2 decimal places. Round your final answers to the nearest whole dollar) End of Year Amounts Drgreciation accumulated Espenne Depreciation Year Book Value 1 2 3 4 Total $ 0 3. Actual miles driven each year were 20,000 miles In Year 1: 30,000 miles In Year 2: 22,000 miles In Year 3 and 27,000 miles in Year 4. Note that actual total miles of 99,000 fall short of expectations by 8,000 miles Calculate annual depreciation for the four-year life of the van using activity-based. (Round your depreciation rate to 2 decimal places.) End of Year Amount Depreciation Accumulated Expense Depreciation Year Book Value 1 2 3 4 Total $ 0