Required information Problem 7-58 Determine depreciation under three methods (LO7-4) [The following information applies to the questions displayed below) Cheetah Copy purchased a new copy machine. The new machine cost $108,000 including installation. The company estimates the equipment will have a residual value of $27,000. 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 Tear Hours Used 3,000 2,000 1,600 3,400 Problem 7-58 Part 3 3. Prepare a depreciation schedule for four years using the activity-based method. (Round your "Depreciation Rate" to 3 decimal places and use this amount in all subsequent calculations.) CHEETAH COPY Depreciation Schedule-Activity-Based End of Year Amounte Depreciation Year Expense 1 2 3 4 Total $ Assumulated Book Value Depreciation