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Calculate annual depreciation for the first two years

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Question - Speedy Delivery Company purchases a delivery van for $29,600. Speedy estimates that at the end of its four-year service life. The van will be worth $4,800. During the four-year period, the company expects to drive the van 155,000 miles. Actual miles driven each year were 41,000 miles in year 1 and 45,000 miles in year 2. Calculate annual depreciation for the first two years of the van using each of the straight-line method.

Reference no: EM133074088

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