lt; Question 1 (of 7) v gt; value' 14.28 points Exercise 11-1 Depreciation methods [LO112] On January 1, 2016, the Excel Delivery Company purchased...

Note: the formula we have to use is:

Double-Declining Balance = Beginning-of-year Book Value * (2/Useful life)

• Attachment 1
• Attachment 2

< Question 1 (of 7) v > value' 14.28 points Exercise 11-1 Depreciation methods [LO11—2] On January 1, 2016, the Excel Delivery Company purchased a delivery van for $50,000. At the end of itsfive-year service life, it is estimated that the van will be worth $2,000. During the five-year period, thecompany expects to drive the van 100,000 miles. Required: Calculate annual depreciation for the five-year life of the van using each of the following methods. (Do notround intermediate calculations.) 1. Straight line. ___$ 9 600§per year 2. Sum-of—the-years’ digits. 2016 $ 16,0002018 9,600