Required information Problem 7-58 Determine depreciation under three methods (L07-4) The following information applies to the questions displayed below) Cheetah Copy purchased a new copy machine. The new machine cost $128,000 including installation. The company estimates the equipment will have a residual value of $32,000 Cheetah Copy also estimates it will use the machine for four years or about 8,000 total hours. Actual use per year was as follows: Year 1 2 3 4 Hours Used 2,100 1,900 1.900 3,300 Problem 7-5B Part 2 2. Prepare a depreciation schedule for four years using the double-declining-balance method. (Hint: The asset will be depreciated in only two years) (Do not round your intermediate calculations.) CHEETAH COPY Depreciation Schedule-Double-Declining-Balance End of Year Amounts Year Depreciation Accumulated Book Value Expense Depreciation 1 2 3 4 Tot 5 0