Return to qu Required information Exercise 11-1 (Algo) Depreciation methods [LO11-2] [The following information applies to the questions displayed below.] On January 1, 2021, the Excel Delivery Company purchased a delivery van for $48,000. At the end of its five-year service life, it is estimated that the van will be worth $3,000. During the five- year period, the company expects to drive the van 175,000 miles. Required: Calculate annual depreciation for the five-year life of the van using each of the following methods. Exercise 11-1 (Algo) Part 3 3. Units of production using miles driven as a measure of output, and the following actual mileage: (Do not rour intermediate calculations.) X Answer is complete but not entirely correct. Year Miles Depreciation 2021 37,000 $ 9,407% 2022 39,000 9,915 Exercise 11-1 (Algo) Part 3 3. Units of production using miles driven as a measure of output, and the following actual mileage: (Do not round intermediate calculations.) X Answer is complete but not entirely correct. Year 2021 2022 2023 Miles 37,000 39,000 30,000 35,000 36,000 Depreciation $ 9,407X 9 ,915% 7,627 X 8,898 x 9,153 X 45,000 2024 2025 Total