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The Blooming Miracles Flower Shop bought a delivery van on January 1, 2017. The van cost $18,000 and had an expected salvage value of $3,000.

The Blooming Miracles Flower Shop bought a delivery van on January 1, 2017. The van cost $18,000 and had an expected salvage value of $3,000. The life of the van was estimated to be 5 years or 150,000 miles. Using the straight-line method of depreciation, the book value of the van at the beginning of the third year would be: $18,000. $15,000. $12,000. $6,000

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