Chubbyville purchases a delivery van for $23,500.Chubbyville estimates a four-year service life and a residual value of $2,500.During the four-year period,the company expects to drive the van 105,000 miles.Calculate annual depreciation for the four-year life of the van using each of the following methods.Round all amounts to the nearest dollar.
1.Straight line.
2.Double-declining-balance.
3.Activity-based.Actual miles driven each year were 24,000 miles in Year 1;26,000 miles in Year 2;22,000 miles in Year 3;and 25,000 miles in Year 4.Note that actual total miles of 97,000 fall short of expectations by 8,000 miles.

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The Answer of Chubbyville purchases a delivery van for $23,500.Chubbyville estimates a four-year service life and a residual value of $2,500.During the four-year period,the company expects to drive the van 105,000 miles.Calculate annual depreciation for the four-year life of the van using each of the following methods.Round all amounts to the nearest dollar.
1.Straight line.
2.Double-declining-balance.
3.Activity-based.Actual miles driven each year were 24,000 miles in Year 1;26,000 miles in Year 2;22,000 miles in Year 3;and 25,000 miles in Year 4.Note that actual total miles of 97,000 fall short of expectations by 8,000 miles.

Chubbyville Purchases a Delivery Van for $23,500