On January 1, 2024, the Excel Delivery Company purchased a delivery van for $35,700. At the...

 

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On January 1, 2024, the Excel Delivery Company purchased a delivery van for $35,700. At the end of its five-year service life, it is estimated that the van will be worth $3,000. During the five-year period, the company expects to drive the van 109,000 miles. Required: Calculate annual depreciation for the five-year life of the van using each of the following methods. 2. Double-declining balance. Note: Round your answers to the nearest whole dollar amount. On January 1, 2024, the Excel Delivery Company purchased a delivery van for $35,700. At the end of its five-year service life, it is estimated that the van will be worth $3,000. During the five-year period, the company expects to drive the van 109,000 miles. Required: Calculate annual depreciation for the five-year life of the van using each of the following methods. 2. Double-declining balance. Note: Round your answers to the nearest whole dollar amount.

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Answer DoubleDeclining Balance Depreciation DDB The doubledeclining balance method calculates deprec... View the full answer