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Calculate annual depreciation for the first two years of van

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Reference no: EM132148306

Question - Speedy Delivery Company purchases a delivery van for $43,200. Speedy estimates that at the end of its four-year service life, the van will be worth $6,800. During the four-year period, the company expects to drive the van 227,500 miles.

Actual miles driven each year were 58,000 miles in year 1 and 62,000 miles in year 2.

 Required: Calculate annual depreciation for the first two years of the van using each of the following methods.

1. Straight-line.

2. Double-declining-balance.

3. Activity-based.

Reference no: EM132148306

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