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On January 1, Speedy Delivery Company purchases a delivery van for $42,400. Speedy estimates that...

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Accounting

On January 1, Speedy Delivery Company purchases a delivery van for $42,400. Speedy estimates that at the end of its four-year service life, the van will be worth $6,400. During the four-year period, the company expects to drive the van 180,000 miles. Actual miles driven each year were 46,000 miles in year 1 and 50,000 miles in year 2. Required: Calculate annual depreciation for the first two years using each of the following methods. (Do not round your intermediate calculations.)

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