11 ! Part 1 of 3 Required information Problem 7-5A Determine depreciation under three methods (L07-4) [The following information applies to the questions displayed below.) 0.29 points 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: 8 02:59:15 eBook Year 1 2 3 4 5 6 Hours Used 3,100 1,100 1,200 2,800 2,600 1,200 Print References Problem 7-5A Part 1 Required: 1. Prepare a depreciation schedule for six years using the straight-line method. (Do not round your intermediate calculations.) UNIVERSITY CAR WASH Depreciation ScheduleStraight-Line End of year amounts Depreciation Accumulated Expense Book Value Depreciation Year 1 2 3 4 5 6 Total