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  3. a company purchases a delivery van for $22,000. th

A company purchases a delivery van for $22,000. The van is estimated to have a...

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Accounting

A company purchases a delivery van for $22,000. The van is estimated to have a four-year service life and a residual value of $2,200.
During the four-year period, the company expects to drive the van 110,000 miles.
Required:
Calculate annual depreciation for the four-year life of the van using each of the following methods.
Straight-line
Double-declining-balance
Activity-based (Actual miles driven each year were 19,000 miles in Year 1; 31,000 miles in Year 2; 22,000 miles in Year 3; and 27,000
miles in Year 4. Note that actual total miles of 99,000 fall short of expectations by 11,000 miles.)
Complete this question by entering your answers in the tabs below.
Calculate annual depreciation for the four-year life of the van using the double-declining-balance method. (Round your
depreciation rate to 2 decimal places. Round your final answers to the nearest whole dollar.)
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