Required informotion Problem 7-5A (Algo) Determine depreciation under three methods (LO7-4) [The following information applies fo the questions displayed below] University Car Wash purchased new soap dispensing equipment that cost $255,000 including installation. The compary estimates that the equipment wil have a residual value of $22,500. University Car Wosh also estimates it will use the machine for six years or about 12,500 total hours. Actual use per year was as follows: Problem 7-5A (Algo) Part 1 Required: 1. Prepate a depreciation schedule for six years using the straight line method. (Do not round your intermediote colculations.) Required: 1. Prepare a depreclation schedule for six years using the straight-line method. (Do not round your intermediate colculations.)