On January $1,2021,$ the Excel Delivery Company purchased a delivery van for $$40,000.$ At the end of its five$-$year service life, it is estimated that the van will be worth $$4,000.$ During the five$-$year period, the company expects to drive the van $121,000$ miles.

Required:

Calculate annual depreciation for the five$-$year life of the van using each of the following methods.

$2.$ Double$-$declining balance. $($Round your answers to the nearest whole dollar amount.$)$ calculate for years $2021,2022,2023,2024,2025,$ and total

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To calculate the annual depreciation for the fiveyear life of the van using the doubledeclining bala... View the full answer