Required information Exercise 7-11 (Algo) Determine depreciation under three methods (LO7-4) [The following information applies to the questions displayed below.] On January 1. Speedy Delivery Company purchases a delivery yan for $40,800. Speedy estimates that at the end of its four-year service life, the van will be worth $5,600. During the four-year period, the company expects to drive the van 176,000 miles. Actual miles driven each year were 45,000 miles in year 1 and 50,000 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 2. Double-declining-balance