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On January 1, year 1, the Fab Delivery Company purchased a delivery van for $43,350....

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Accounting

On January 1, year 1, the Fab Delivery Company purchased a delivery van for $43,350. At the end of its five-year service life, it is
estimated that the van will be worth $4,500. During the five-year period, the company expects to drive the van 105,000 miles.
Required:
Calculate annual depreciation for the five-year life of the van using each of the following methods. Round all computations to the
nearest dollar.
1. Straight line.
2. Double-declining balance.
3. Units of production using miles driven as a measure of output, and the following actual mileage:
Year Miles
year 121,700
year 224,500
year 315,200
year 420,700
year 525,900

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