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Required information Exercise 11-1 (Algo) Depreciation methods (L011-2] [The following information applies to the questions displayed below.) On January 1, 2021, the Excel Delivery Company purchased a delivery van for $30,000. At the end of its five-year service life, it is estimated that the van will be worth $3,000. During the five-year period, the company expects to drive the van 132,000 miles. Required: Calculate annual depreciation for the five-year life of the van using each of the following methods. Exercise 11-1 (Algo) Part 1 1. Straight line Answer is complete but not entirely correct. Straight-line $ 3,400 per year Required information Exercise 11-1 (Algo) Depreciation methods (LO11-2) The following information applies to the questions displayed below.] On January 1, 2021, the Excel Delivery Company purchased a delivery van for $30,000. At the end of its five-year service life, it is estimated that the van will be worth $3,000. During the five-year period, the company expects to drive the van 132,000 miles. Required: Calculate annual depreciation for the five-year life of the van using each of the following methods. Exercise 11-1 (Algo) Part 2 2. Double-declining balance. (Round your answers to the nearest whole dollar amount.) Answer is complete but not entirely correct. Year 2021 2022 2023 Depreciation 6,800 4,080 2,448 X 1.469 X 881 S 15,678 2024 2025 Total Required information Exercise 11-1 (Algo) Depreciation methods [LO11-2] The following information applies to the questions displayed below. On January 1, 2021, the Excel Delivery Company purchased a delivery van for $30,000. At the end of its five-year service life, it is estimated that the van will be worth $3,000. During the five-year period, the company expects to drive the van 132,000 miles. Required: Calculate annual depreciation for the five-year life of the van using each of the following methods. Exercise 11-1 (Algo) Part 3 3. Units of production using miles driven as a measure of output, and the following actual mileage: (Do not round Intermediate calculations.) Depreciation Year 2021 2022 2023 2024 2025 Miles 20,000 10,000 31,000 36,000 37.000 Total

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