Key question: activity-based method

University Car Wash purchased new soap dispensing equipment that cost $270,000 including installation. The company estimates that the equipment will have a residual value of $24,000. 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: Prepare a depreciation schedule for six years using the activity-based method. (Round your "Depreciation Rate" to 2 decimal laces and use this amount in all subsequent calculations.) Answer is complete but not entirely correct. 3. Prepare a depreciation schedule for six years using the activity-based method. (Round your "Depreciation Rate" places and use this amount in all subsequent calculations.) Answer is complete but not entirely correct