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Required information Problem 7.5B (Algo) Determine depreciation under three methods (LO7-4) [The following information applies to the questions displayed below.] Quick 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. Quick Copy also estimates it will use the machine for four years or about 8,000 total hours. Actual use per year was as follows: Problem 7.5B (Algo) Part 1 Required: 1. Prepare a depreciation schedule for four years using the straight-line method. (Do not round your intermediate calculations.)