+ 3 13 of 3 eBlock Print Required information Problem 7-5A Determine depreciation under three methods (LO7-4) [The following information applies to the questions displayed below] University Car Wash built a deluxe car wash across the street from campus. The new machines cost $264,000 including installation. The company estimates that the equipment will have a residual value of $25,500. University Car Wash also estimates it will use the machine for six years or about 12,500 total hours. Actual use per year was as follows: Year 1 2 Hours Used 2,900 1,300 1,400 2,600 2,400 1,900 eferences Problem 7-5A Part 3 3. Prepare a depreciation schedule for six years using the activity-based method. (Round your "Depreciation Rate" to 2 decimal places and use this amount in all subsequent calculations.). UNIVERSITY CAR WASH Depreciation Schedule-Activity-Based End of year amounts Accumulated Depreciation Book Value Depreciation Year Expense 1 2 3 4 6 Total