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In: AccountingOn January 1, 2018, the Excel Delivery Company purchased adelivery van for $57,000. At the...On January 1, 2018, the Excel Delivery Company purchased adelivery van for $57,000. At the end of its five-year service life,it is estimated that the van will be worth $5,400. During thefive-year period, the company expects to drive the van 172,000miles.Required:Calculate annual depreciation for the five-year life of the vanusing each of the following methods.1. Straight line.2. Sum-of-the-years’-digits.3. Double-declining balance.4. Units of production using miles driven as ameasure of output, and the following actual mileage:
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