11 Required information Problem 7-5A Determine depreciation under three methods (L07-4) [The following information applies to the questions displayed below.] Part 3 of 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 will use the machine for six years or about 12,000 total hours. Actual use per year was as follows: 0.33 points Skipped Year 1 2 3 Hours Used 3,100 1,100 1,200 2,800 2,600 1,200 4 5 6 eBook Print Problem 7-5A Part 3 References 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.) UNIVERSITY CAR WASH Depreciation Schedule-Activity-Based End of year amounts Depreciation Accumulated Expense Depreciation Book Value Year 1 2 3 4 5 6 Total $