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 $116,000 including installation The company estimates the equipment will have a residual value of $29,000. 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: 10 Year 1 2 3 Rours Used 2,800 2,000 2,000 2,000 Problem 7-5B Part 2 PS 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 Schedulo-Double-Declining-Balance End of Year Amounts Year Depreciation Accumulated Book Value Expense Depreciation 1 2 3 4 Total $