Required information Problem 7-5B Determine depreciation under three methods (LO7-4) [The following information applies to the questions displayed below.) Cheetah Copy purchased a new copy machine. The new machine cost $110,000 including installation. The company estimates the equipment will have a residual value of $27.500. 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 Hours Used 2,000 1,600 2,000 3,200 4 2. Prepare a depreciation schedule for four years using the double-declining balance method. (Hint The asset will be deprecated in only two years.) (Do not round your intermediate calculations.) CHEETAH COPY Depreciation Schedule-Double Declining Balance End of Year Amounts Year Depreciation Accumulated Expense Depreciation Book Value 1 2 3 4 Total 5 Problem 7-5B Part 3 3. Prepare a depreciation schedule for four years using the activity-based method. (Round your "Depreciation Rate" to 3 decimal places and use this amount in all subsequent calculations.) CHEETAH COHY Depreciation Schedule Activity Based End of Year Amounts Depreciation Accumulated Book Value Expense Depreciation Year 1 2 3 4 Total $