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On January 1, 2024, the Excel Delivery Company purchased a delivery van for $35,000. At the end of its five-year service life, it is estimated that the van will be worth $2,000. During the five-year period, the company expects to drive the van 110,000 miles. Required: Calculate annual depreciation for the five-year life of the van using each of the following methods. 2. Double-declining balance.

3. Units of production using miles driven as a measure of output, and the following actual mileage:

\begin{tabular}{|c|cr|} \hline Year & \multicolumn{2}{|c|}{ Depreciation } \\ \hline 2024 & $ & 14,000 \\ \hline 2025 & & \\ \hline 2026 & & \\ \hline 2027 & & \\ \hline 2028 & & \\ \hline Total & $ & 14,000 \\ \hline \end{tabular} \begin{tabular}{|l|l|l|} \hline Year & \multicolumn{1}{|l|}{ Miles } & Depreciation \\ \hline 2024 & 24,000 & \\ \hline 2025 & 26,000 & \\ \hline 2026 & 17,000 & \\ \hline 2027 & 22,000 & \\ \hline 2028 & 23,000 & \\ \hline Total & & \\ \hline \end{tabular}