A cargo van purchased by Airport Carriers should last 3 years. The purchase price was $70,800. Shipping costs were $1,557. The trade-in value is $5,412. Prepare a depreciation schedule using the double declining balance method, then enter the accumulated depreciation at the end of year 2 as your answer. (Round the declining balance rate to 4 decimal places, and all dollar amounts to the nearest cent)

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The double declining balance depreciation rate is 2 * (1 / 3) = 2/3 = 0.6667.Year 1: Depreciation = $70,800 * 0.6667 = $47,223.60Accumulated Depreciation = $47,223.60Year 2: Depreciation = ($70,800 - $47,223.60) * 0.6667 = $15,094.81Accumulated Depreciation = $47,223.60 + $15,094.81 = $62,318.41

A Cargo Van Purchased by Airport Carriers Should Last 3