Problem 7-5B Determine depreciation under three methods (L07-4) [The following information applies to the questions displayed below.) Cheetah Copy purchased a new copy machine. The new machine cost $110,000 including installation. The company estimates the equipment will have a residual value of $27,500. Cheetah Copy also estimates it will use the machine for four years or about 8,000 total hours. Actual use per year was as follows: Year 1 2 3 4 Hours Used 2,000 1,600 2,000 3,200 f 2,000 3,200 Problem 7-5B Part 2 2. Prepare a depreciation schedule for four years using the double-declining balance method. (Hint: The asset will be depreciated in only two years.) (Do not round your intermediate calculations.) CHEETAH COPY Depreciation Schedule-Double-Declining-Balance End of Year Amounts Depreciation Accumulated Year Book Value Expense Depreciation 1 2 3 4 Total