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Required information [The following information applies to the questions displayed below] On January 1, 2021, the Excel Delivery Company purchased a delivery van for $52,000. At the end of its five-year service life, it is estimated that the van will be worth $4,000. During the five-year period, the company expects to drive the van 165,000 miles. Required: Calculate annual depreciation for the five-year life of the van using each of the following methods. 3. Units of production using miles driven as a measure of output, and the following actual mileage: (Do not round intermediate calculations.) Year Miles Depreciation 2021 2022 2023 2024 2025 Total 31.000 $ 33,000 44,000 29,000 30,000 $ 9.018 9.600 12,800 8,436 8145 47.999 Pe
The following information applies to the questions displayed below.] On January 1, 2021, the Excel Delivery Company purchased a delivery van for $52,000. At the end of its five-year service life, it is estimated that the van will be worth $4,000. During the five-year period, the company expects to drive the van 165,000 miles Required: Calculate annual depreciation for the five-year life of the van using each of the following methods. 2. Double-declining balance (Round your answers to the nearest whole dollar amount.) Year Depreciation 2021 $ 20,800 2022 12.480 2023 7,488 2024 4,493 2025 2,739 Total 48,000 $