Sanders Catering purchases a van for $32,000. The van has an estimated salvage value of $6,000 and

Question:

Sanders Catering purchases a van for $32,000. The van has an estimated of $6,000 and is expected to be driven for four years. Garrett uses the double-declining-balance method of depreciation.
Required
Calculate depreciation expense for each of the four years of the asset's life. Salvage Value
Salvage value is the estimated book value of an asset after depreciation is complete, based on what a company expects to receive in exchange for the asset at the end of its useful life. As such, an asset’s estimated salvage value is an important...