Required information [The following information applies to the questions displayed below) Speedy Delivery Company purchases...
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Required information [The following information applies to the questions displayed below) Speedy Delivery Company purchases a delivery van for $40,000. Speedy estimates that at the end of its four-year service life, the van will be worth $5,200. During the four-year period, the company expects to drive the van 174,000 miles, Actual miles driven each year were 44,000 miles in year 1 and 52,000 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.) 2. Double-declining balance. Year Annual Depreciation 1 2
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