Sally is a representative for a window manufacturing company. She uses a van entirely for business. She trades in her van every 4 years. Sally paid $35,000 for her van and expects to receive $11,000 for the van when she trades it in after 4 years. Using the straight-line method, what is the annual depreciation?

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Sally is a representative for a window manufacturing company. She uses a van entirely for business. She trades in her van every 4 years. Sally paid $35,000 for her van and expects to receive $11,000 for the van when she trades it in after 4 years. Using the straight-line method, what is the annual depreciation?