Mike Davis Enterprises purchased a delivery van for $40,000 in January 20X7. The van was estimated to encompass a service life of 5 years and a residual value of $6,000. The company is planning to drive the van 20,000 miles yearly. Calculate depreciation expense for 20X8 by using each of the given methods:
a) Units-of-output, supposing 17,000 miles were driven during 20X8
b) Straight-line
c) Double-declining-balance