P7-5B Cheetah Copy purchased a new copy machine. The new machine cost $140,000 including installation. The company estimates the equipment will have a residual value of $35,000. Chectah Copy also estimates it will use the machine for four years or about 8,000 total hours. Required: Prepare a depreciation schedule for four years using the following methods: 1. Straight-line. 2. Double-decliningbalance. (Hint: The axset will be depreciated in only two years.) 3. Activitybased Actual use per year was as follows