Steven's Co. purchased a delivery vehicle on January 1, 2012 for $46,000. The vehicle has a life of 8 years or 250,000 miles and an estimated salvage value of $5,000. Calculate the depreciation for 2014 (only) using the (1) straight line method; (2) double declining balance method; and (3) the activity-based method assuming that the vehicle was driven 31,000 miles in 2015.

1. Straight Line:

2. Double Declining:

3. Activity Based:

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1 1 Streight Line 2 3 Purchase ... View the full answer