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Required information Exercise 11-1 (Algo) Depreciation methods [LO11-2] [The following information applies to the questions displayed below.) On January 1, 2021, the Excel Delivery Company purchased a delivery van for $30,000. 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 132,000 miles. Required: Calculate annual depreciation for the five-year life of the van using each of the following methods. Exercise 11-1 (Algo) Part 2 2. Double-declining balance. (Round your answers to the nearest whole dollar amount.) Depreciation $ 6,800 4.000 Year 2021 2022 2023 2024 2025 Total 2,448 1,469 881 $ 15,678