Homework Seved Help Exercise 7-11B Determine depreciation under three methods (L07-4) A company purchases a delivery van for $31,200. The company estimates that at the end of its four-year service life, the van will be worth $5,600. During the four-year period, the company expects to drive the van 128,000 miles. Actual miles driven each year were 35,000 miles in year 1 and 39,000 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 1 Annual Depreciation $ 6,400 $ 6,400 2 2. Double-declining-balance. Year Annual Depreciation 1 2 2 2 $ 6,400 6 points 2. Double-declining-balance. 01:14:58 Year Annual Depreciation eBook 1 References 2. 3. Activity-based Year Annual Depreciation 1 2 Me araw