3 of 3 Required information Problem 7-5B Determine depreciation under three methods (L07-4) [The following information applies to the questions displayed below) Cheetah Copy purchased a new copy machine. The new machine cost $116,000 including installation The company estimates the equipment will have a residual value of $29,000, 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: hits 02.00.12 Year 1 2 3 4 Hours Used 2,800 2.000 2.000 2,000 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.) Year Answer is not complete. CHEETAH COPY Depreciation Schedule Activity-Based End of Year Amounts Depreciation Accumulated Book Value Expense Depreciation 5 30.450 30,540 21,750 52.290 21.750 74,040 21,750 95.700 s 95.700 1 2 3 4 Total