Required information Exercise 7-11A Determine depreciation under three methods (LO7-4) [The following information applies to the questions displayed below.] Speedy Delivery Company purchases a delivery van for $31,200. 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 128,000 miles. Actual miles driven each year were 35,000 miles in year 1 and 39,000 miles in year 2. Required: Calculate annual depreciation for the first two years of the van using each of the following methods. (Do not round your intermediate calculations.) Exercise 7-11A Part 1 1. Straight-line. Annual Year Depreciation 1 2