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The Knight Bus Service, known for its magical transportation in the wizarding world, bought a new, enchanted transit van for $ 3 5 , 1
The Knight Bus Service, known for its magical transportation in the wizarding world, bought a new, enchanted transit van for $ on January The eistimated residual value of the magical van is expected to be $ at the end of its fiveyear service life. During these years, the Knight Bus Service anticipates that the van will travel a total of magical miles.
Required:
Using each of the following methods, determine annual depreciation for the fiveyear life of the van.
Doubledeclining balance.
Note: Round your answers to the nearest whole dollar amount.
tableYearDepreciationTotal$
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