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Speedy Delivery Company purchases a delivery van for $37,600. Speedy estimates that at the end...

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Accounting

Speedy Delivery Company purchases a delivery van for $37,600. Speedy estimates that at the end of its four-year service life, the van will be worth $5,800. During the four-year period, the company expects to drive the van 159,000 miles.

Actual miles driven each year were 42,000 miles in year 1 and 45,000 miles in year 2.

Required:

Calculate annual depreciation for the first two years of the van using each of the following methods. (Do not round your intermediate calculations.)

1. Straight-line.

year annual depreciation

1

2

2. Double-declining-balance.

year annual depreciation

1

2

3. Activity-based.

year annual depreciation

1

2

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