None Required InformationExercise 11-1 (Algo) Depreciation methods [LO11-2][The following information applies to the questions displayed below.]On January 1, 2024, the Excel Delivery Company purchased a delivery van for $35,700. At the end of itsfive-year service life, it is estimated that the van will be worth $3,000. During the five-year period, thecompany expects to drive the van 109,000 miles.Required:Calculate annual depreciation for the five-year life of the van using each of the following methods.Exercise 11-1 (Algo) Part 33. Units of production using miles driven as a measure of output, and the following actual mileage:Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.Answer is complete but not entirely correct.YearMilesDepreciation202423.800S7,206202525,8007,740202616,8005,040202729,0008.700202815,6003,425TotalS32,111

Name: None Required InformationExercise 11-1 (Algo) Depreciation methods [LO
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Description: None Required InformationExercise 11-1 (Algo) Depreciation methods [LO11-2][The following information applies to the questions displayed below.]On January 1, 2024, the Excel Delivery Company purchased a delivery van for $35,700. At the end of itsfive