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 van for $28,800. Speedy estimates that at the end of its four-year service life, the van will be worth $4,400. During the four-year period, the company expects to drive the van 122,000 miles. Actual miles driven each year were 33,200 miles in year 1 and 36,300 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. Answer is complete but not entirely correct. Year Annual Depreciation 1 $ 6,640 2 $ 7,260