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Problem 7-5A (Algo) Determine depreciation under three methods (LO7-4)

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University Car Wash purchased new soap dispensing equipment that cost $216,000 including installation. The company estimates that the equipment will have a residual value of $19,500. University Car Wash also estimates it will use the machine for six years or about 12,500 total hours. Actual use per year was as follows:

Year	Hours Used
1	2,900
2	1,300
3	1,400
4	2,600
5	2,400
6	1,900

Problem 7-5A (Algo) Part 1

Required:

1. Prepare a depreciation schedule for six years using the straight-line method. (Do not round your intermediate calculations.)