Question: i need the formula to solve this problem I'm sruggling understanding how to get the accumulated depreciation. University Car Wash purchased new soap dispensing equipment

University Car Wash purchased new soap dispensing equipment that cost $240,000 including installation. The company estimates that the equipment will have a residual value of $30,000. 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: 2. Prepare a depreciation schedule for six years using the double-declining-balance method. (Do not round your intermediate calculations.) \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ UNIVERSITY CAR WASH } \\ \hline \multicolumn{5}{|c|}{ Depreciation Schedule-Double-Declining-Balance } \\ \hline \multicolumn{5}{|c|}{ End of Year Amounts } \\ \hline Year & \multicolumn{2}{|c|}{ Expense } & \begin{tabular}{l} Accumulated \\ Depreciation \end{tabular} & Book Value \\ \hline 1 & $ & 80,000 & 80,000 & 160,000 \\ \hline 2 & & 53,333 & & \\ \hline 3 & & & & \\ \hline 4 & & & & \\ \hline 5 & & & & \\ \hline 6 & & & & \\ \hline Total & $ & 133,333 & & \\ \hline \end{tabular}
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