Required information Problem 7.5A (Algo) Determine depreciation under three methods (LO7.4) [The followng 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 of about 12,500 total hours. Actual use per year was as follows: Problem 7.5A (Algo) Part 1 Required: 1. Prepare a depreciation schedule for six years using the straight-line method. (Do not round your intermediote calculotions.) Required information Problem 7.5A (Algo) Determine depreciation under three methods (LO7.4) The following information applies to the questions displayed beiow) Universty 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 Universify 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: Problem 7.5A (Algo) Part 2 2. Prepare a depreciationschedule for six years using the double-declining-balance method (Do not round your intermediate coleulations.) Required information Problem 7.5A (Algo) Determine depreciation under three methods (LO7.4) [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 sixyears or about 12,500 total hours. Actual use per year was as follows: Problem 7.5A (Algo) Part 3 3. Prepare a depreciation schedule for six years using the activity.based method. (Round your "Depreciation Rote" to 2 decimal places and use this amount in all subsequent coiculations.)