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 $243,000 including installation. The company estimates that the equipment will have a residual value of $28,500. 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: Required: 1. Prepare a depreciation schedule for six years using the straight-line method. (Do not round 2. Prepare a depreciation schedule for six years using the double-declining-balance method. (Do not round calculations.) 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.)