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I Required information [ The following information applies to the questions displayed below. ] University Car Wash purchased new soap dispensing equipment that cost $

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Required information
[The following information applies to the questions displayed below.]
University Car Wash purchased new soap dispensing equipment that cost $255,000 including installation. The company estimates that the equipment will have a residual value of $22,500. 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:
\table[[Year,Hours Used],[1,3,100],[2,1,600],[3,1,700],[4,2,300],[5,2,100],[6,1,700]]
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.)
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