Exercise 7-11B Determine depreciation under three methods (LO7-4) A company purchases a delivery van for $28,800. The company estimates that at the end of its four-year service life, the van will be worth $4,400. During the four-year period, the company expects to drive the van 122,000 miles. Actual miles driven each year were 33,200 miles in year 1 and 36,300 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 1 2 Annual Depreciation 2. Double-declining-balance. Year 1 Annual Depreciation 2 3. Activity-based. Year Annual Depreciation 1 2