3 Required Information Problem 7-5A Determine depreciation under three methods (L07-4) [The following information applies to the questions displayed below.] Part 1 of 2 University Car Wash built a deluxe car wash across the street from campus. The new machines cost $237.000 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: 1.2 points Year 1 2 3 4 5 6 Hours Used 2,7ee 2,eee 2,18e 1,90 1,7ee 2,18e eBook References Problem 7-5A Part 1 Requlred: 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 Part 2 of 2 Required Information Problem 7-5A Determine depreciation under three methods (L07-4) [The following information applies to the questions displayed below.] 1.2 points University Car Wash built a deluxe car wash across the street from campus. The new machines cost $237.000 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: eBook Year 1 2 3 Hours Used 2,780 2.ee 2,18e 1,98e 1,780 2,180 4 References 6 Problem 7-5A Part 3 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 ScheduleActivity-Based End of year amounts Depreciation Accumulated Expense Book Value Depreciation Year 1 2