Prepare a depreciation schedule for six years using the straight-line method.

University Car Wash built a deluxe car wash across the street from campus. The new machines 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: Year 1 2 3 4 5 Hours Used 2,600 2.100 2,200 1,800 1,600 1,700