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The process of allocating an intangible asset's cost to expense over the period the asset is used is called: Depletion Depreciation Amortization Direct Write-off On January 1, Year 1, Flora's Flower Shop purchased a delivery van for $28,000. The estimated useful life of the van is 6 years or 100,000 miles, and the salvage value is set at $4,000. Actual mileage driven was 15,000 miles in Year 1 and 20,000 miles in Year 2. Assuming Flora's Flower Shop used the straight-line method, the book value of the delivery van on the December 31, Year 2 balance sheet is: $23,000$18,000$20,000$16,000 On January 1, Year 1, Flora's Flower Shop purchased a delivery van for $28,000 The estimated useful life of the van is 6 years or 100.000 miles, and the salvage value is set at $4,000. Actual mileage driven was 15,000 miles in Year 1 and 20,000 miles in Year 2. The Year 1 depreciation expense (rounded to the nearest dollar) using the double declining balance method is: $6,222$9,333$6,720$8,000