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! Required information [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 $249,000 including installation. The company estimates that the equipment will have a residual value of $25,500. University Car Wash also will use the machine for six years or about 12,500 total hours. Actual use per year was as follows: estimates Hours Used Year 1 2,900 2 1,800 3 1,900 2,100 1,900 1,900 6 2. Prepare a depreciation schedule for six years using the double-declining-balance method. (Do not round your intermediate calculations.) Answer is complete but not entirely correct. UNIVERSITY CAR WASH Depreciation Schedule-Double-Declining-Balance End of year amounts Depreciation Expense Accumulated Book Value Year Depreciation 83,000 83,000 $ $ 1 166,000 55,333 2 138,333 110,667 36,889 3 175,222 73,778 24,593 4 199,815 49,185 16,395 216,210 32,790 23,685(X 231,000 25,500 6 239,895 Total