Required Information Problem 7-5A Determine depreciation under three methods (LO7-4) [The following information applies to the questions displayed below.) 3 University Car Wash built a deluxe car wash across the street from campus. The new machines cost $270,000 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 Hours Used 3,100 1,100 1,200 2,800 2,600 1,200 5 6 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.) Part 3 of 3 Problem 7-5A Part 3 125 points 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.) Book Print References UNIVERSITY CAR WASH Depreciation Schedule Activity-Based End of year amounts Depreciation Accumulated Book Value Expense Depreciation Year 1 2 3 6 Total