S Weyandt, Accounting Principles, 13e Help Systern Announcements CALCULATOR PRINTER VERSION BACK NEXT Cookie Creations 10 a-b.ce (Part Level Submission) Natalc is thinking of buying a van that will be used only for business. The cost of the van is estimated at $20,500. Natale would spend an additional $2,500 to have the var painted. In addition, she wants the back seat of the var removed so that she will have Icts of room to transport her mixer inventory as well as her taking supplies. The cost of taking out the back seat and installing shelving uns is estimated at $1,500. She expects the van to last about 5 years, and she expects to drive it for 200,000 miles. The annual cost of vehicle insurance will be $2,400. Natale estimates that at the end of the 5-year useful life the van will sell for $7.500. Assume that she will buy the ven on August 15, 2020, and it will be ready for use on September 1, 2020. Nate le is concerned about the induct of the van's cost on her incorre statement and telene street. She has come to you for advice on calculating the van's deprecation. (a) Your anismer is correct Determina the cost of the van Cost of the van 40500 Click if you would like to show Work for this question: Open Show Work HOW SOLUTION SHOW ANWAR LINK TO TEXT Attempts: 1 of 2 used (b) Prepare three depreciation zbles for 2020 2021 and 2022: are for straight-line depreciation (similar to the one in Illustration 10-9), cns for double-declining balance depreciation (Illustration 10-10), and one for uns-of-acavity depreciation (Ilustration 10-11). For units-ot-activity, Natale estimates she will drive the van as follows: 15.000 miles in 2020; 45,000 miles in 2021: 50,000 miles in 2022; 50,000 miles in 2022; and 40,000 miles in 2024. Recall that Cookie Creations has a December 31 year-end. (Round depreciation cost/unit to 3 decimal places, e.g. 0.225.) Straight-line depreciation Year Depreciable Costs Depreciation Expense Accumulated Depreciation Net Book Value zuzu $ 2021 2022 Double-declining-balance depreciation Year NBY (Beg. of Year) Depreciation Expense Accumulated Depreciation Net Book Value S Wayqandt, Accounting Principles, 13 Help CALCULATOR PRIHTER VERSION BACK NEXT e.g. 0.225.) Straight-line depreciation Year Depreciable Costs Depreciation Expense Accumulated Depreciation Net Book Value $ 2020 $ $ 2021 2022 Double-declining balance depreciation Year NBV (Beg, of Year) Depreciation Expense Accumulated Depreciation Net Book Value $ 2020 2021 2022 Units of activity depreciation Year Units of Activity Depreciation Expense Accumulated Depreciation Net Book Value 2020 2021 2022 Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT Attempts: 0 of 2 used