Chapter 7 Homework 2 Seve Help Save & Exit Submit Check my work 14.28 points Peek Exercise 7-118 Determine depreciation under three methods (LO7-4) A company purchases a delivery van for $30,400. The company 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 157,500 miles. Actual miles driven each year were 42.000 miles in year 1 and 46,000 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.) 1. Straight-line. Year T Annual Depreciation Mc Grow! 2