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Calculate annual depreciation for the first two years

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Reference no: EM132919782

Question - Flowerworks Corporation purchases a vehicle for $32,800 to deliver flowers to the surrounding community. Flowerworks estimates that at the end of its four-year useful life, the delivery vehicle will be worth $4,800. During the four-year period, the company plans to drive the vehicle 175,000 miles.

Actual miles driven each year were 45,000 miles in year 1 and 53,000 miles in year 2.

Required - Calculate annual depreciation for the first two years of the vehicle using each of the following methods.

1. Straight-line.

2. Double-declining-balance.

3. Activity-based.

Reference no: EM132919782

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