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Required information

Exercise $7-11($Algo$)$ Determine depreciation under three methods $($LO$7-4)$

$[$The following information applies to the questions displayed below.$]$

On January $1,$ Speedy Delivery Company purchases a delivery van for $$32,000.$ Speedy estimates that at the end of its

four$-$year service life, the van will be worth $$6,000.$ During the four$-$year period, the company expects to drive the van

$130,000$ miles.

Actual miles driven each year were $35,000$ miles in year $1$ and $38,000$ miles in year $2.$

Required:

Calculate annual depreciation for the first two years using each of the following methods. $($Do not round your

intermediate calculations.$)$

Exercise $7-11($Algo$)$ Part $2$

Double$-$declining$-$balance.