4 Required Information Problem 7-5A Determine depreciation under three methods (L07-4) [The following information applies to the questions displayed below.) 2 of 3 University Car Wash built a deluxe car wash across the street from campus. The new machines cost $270,000 including installation. The company estimates that the equipment will have a residual value of $24,000. University Car Wash also estimates it will use the machine for six years or about 12,000 total hours. Actual use per year was as follows: 5 Year 1 2 3 4 5 6 Hours Used 3,100 1,100 1,200 2,800 2,600 1,200 Problem 7-5A Part 2 2. Prepare a depreciation schedule for six years using the double-declining balance method. (Do not round your Intermediate calculations.) points Problem 7-5A Part 2 eBook Print 2. Prepare a depreciation schedule for six years using the double-declining-balance method. (Do not round your intermediate calculations.) References UNIVERSITY CAR WASH Depreciation Schedule-Double-Declining-Balance End of year amounts Depreciation Year Accumulated Expense Depreciation Book Value 1 $ 89.1007 s 89,100 $ 180,000 2 60.300 149.400 120,600 3 40,200 189,600 80,400 4 26,800 216,400 53,600 5 17,867 234.267 35.733 6 11,9111 246, 187 23,822 Total $ 246,178