Exercise 7-11B Determine depreciation under three methods (L07-4) 3 2.25 A company purchases a delivery van for $32,000. The company estimates that at the end of its four-year service life, the van will be worth $6,000. During the four-year period, the company expects to drive the van 130,000 miles. Actual miles driven each year were 35,000 miles in year 1 and 38,000 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.) points Print References 1. Straight line. Year Annual Depreciation $ 6,500 $ 6,500 1 2 2. Double-declining balance. Year Annual Depreciation 1 2 Module 2/Chapter 7a 1 $ 6,500 $ 6,500 2 N 3 2.25 points 2. Double-declining-balance. Print Year Annual Depreciation References 1 2 3. Activity-based. Year Annual Depreciation 1 2 Mc