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Carter's Trucking Company purchases a delivery van for $49,000. Carter's estimates that at the end...

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Accounting

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Carter's Trucking Company purchases a delivery van for $49,000. Carter's estimates that at the end of its 5 year service life, the van will be worth $14,500. During the five-year period, the company expects to drive the van 138,000 miles. Actual miles driven each year were 31,000 miles in year 1; 25,000 miles in year 2; 27,000 miles in year 3: 30,000 miles in year 4; and 29,000 miles in year 5. Note that actual total miles of 142,000 exceed expectations by 4,000 miles. Required Calculate annual depreciation and the book value and the end of each year for the five-year life of the van using each of the following methods. (Do not round your intermediate calculations.) 1. Straight-line. Book Value Annual Book Value Total

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