Tender Years purchased a new van on January 1, 201X, for $60,000. The life of the van is 5 years or 100,000 miles, with an estimated residual value of $5,000. During the first year, the van was driven 22,000 miles. Compute the depreciation expense for the first year applying each of the methods below.
a) ________ Straight-line
b) ________ Units-of-production
c) ________ Double declining-balance

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The Answer of Tender Years purchased a new van on January 1, 201X, for $60,000. The life of the van is 5 years or 100,000 miles, with an estimated residual value of $5,000. During the first year, the van was driven 22,000 miles. Compute the depreciation expense for the first year applying each of the methods below.
a) ________ Straight-line
b) ________ Units-of-production
c) ________ Double declining-balance

Tender Years Purchased a New Van on January 1, 201X