Required Information Problem 7-5A Determine depreciation under three methods (L07-4) [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 $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 2.ee 1,3ee 1.4ee 2,6ee 2.400 1.989 Problem 7-5A Part 3 3. Prepare a depreciation schedule for six years using the activity-based method. (Round your "Depreciation Rate" to 2 decimal places and use thls amount In all subsequent calculations.) UNIVERSITY CAR WASH Depreciation Schedule-Activity-Based End of year amounts Depreciation Accumulated Expense Depreciation Book Value Year Total University Car Wash built a deluxe car wash across the street from campus. The new machines 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 OWN Hours Used 2,988 1.3ee 1.4ee 2.6ee 2.400 1,900 oblem 7-5A Part 2 Prepare a depreciation schedule for six years using the double-declining-balance method. (Do not round your ermediate calculations.) UNIVERSITY CAR WASH Depreciation Schedule-Double-Declining-Balance End of year amounts Depreciation Accumulated Book Value Expense Depreciation S 216.000 ear