5 ts Required Information Problem 7-5A Determine depreciation under three methods (L07-4) [The following information applies to the questions displayed below) 01:53:24 ipped University Car Wash built a deluxe car wash across the street from campus. The new machines cost $261,000 including installaton. The company estimates that the equipment will have a residual value of $27,000. 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: Hours Used 2,800 1,400 1,500 2,500 2,300 1,500 Book Year 1 2 3 4 5 Print Problem 7-5A Part 1 ferences Required: 1. Prepare a depreciation schedule for six years using the straight-line method (Do not round your intermediate calculations.) UNIVERSITY CAR WASH Depreciation Schedule--Straight-Line End of year amounts Depreciation Accumulated Book Value Expense Depreciation Year 1 2 3 4 5 5 Total 5