University Car Wash built a deluxe car wash across the street from campus. The new machines...

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University Car Wash built a deluxe car wash across the street from campus. The new machines cost $258,000 including installation. The company estimates that the equipment will have a residual value of $28,500. 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 1 2 3 4 tin to 5 6 Hours Used 2,700 1,500 1,600 2,400 2,200 2,100 2. Prepare a depreciation schedule for six years using the double-declining-balance method. (Do not round your intermediate calculations.) University Car Wash built a deluxe car wash across the street from campus. The new machines cost $258,000 including installation. The company estimates that the equipment will have a residual value of $28,500. 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 1 2 3 4 tin to 5 6 Hours Used 2,700 1,500 1,600 2,400 2,200 2,100 2. Prepare a depreciation schedule for six years using the double-declining-balance method. (Do not round your intermediate calculations.)

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Step 1 Calculate the straightline depreciation rate Straightline depreciation rate 1 Useful life in years 1 6 01667 Step 2 Calculate the doubledeclini... View the full answer