Required information 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 $104,000 including installation. The company estimates the equipment will have a residual value of $26,000. 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: Year AWN Hours Used 2,900 1,300 1,400 2,600 Problem 7-5B 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.) Answer is not complete. Year CHEETAH COPY Depreciation ScheduleActivity-Based End of Year Amounts Depreciation Accumulated Book Value Expense Depreciation $ 28,275 $ 28,275 $ 75,725 12,675 40,950 63,050 13,650 54,600 49,400 1 Total $ 54,600