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 $258,000 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: Problem 7-5A (Algo) Part 1 Required: 1. Prepare a depreciation schedule for six years using the straight-line method. (Do not round your intermediate calculations.)