Cheetah Copy purchased a new copy machine. The new machine cost $122,000 including installation. The company estimates the equipment will have a residual value of $30,500. 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: Year 1 2 3 4 Hours Used 2,000 2,000 2,000 3,200 Required: 1. Prepare a depreciation schedule for four years using the straight-line method. (Do not round your intermediate calculations.) Year Answer is complete but not entirely correct. CHEETAH COPY Depreciation Schedule-Straight-Line End of Year Amounts Depreciation Accumulated Book Expense Depreciation Value s 61,000 $ 61,000 $ 61,000 $ 30,500 91,500 30,500 0 X 91,500 30,500 X 0 % 91,500 30,500 S 91,500 1 2 3 4 Total 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.) CHEETAH COPY Depreciation Schedule-Activity-Based End of Year Amounts Depreciation Accumulated Expense Book Value Depreciation Year 1 2 3 4 Total $ 0