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 $228,000 including installation. The company estimates that the equipment will have a residual value of $24,000. 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 6 Hours Used 3,000 1,700 1,800 2,200 2,000 1,300 Problem 7.5A Part 2 2. Prepare a depreciation schedule for six years using the double-declining balance method. (Do not round your intermediate calculations.) UNIVERSITY CAR WASH Depreciation Schedule Double Declinina Balance 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 $228,000 including installation. The company estimates that the equipment will have a residual value of $24,000. 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 6 Hours Used 3,000 1,700 1,800 2,200 2,000 1,300 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 this amount in all subsequent calculations.) UNIVERSITY CAR WASH Depreciation Schedule-Activity-Based