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University Car Wash built a deluxe car wash across the street from campus. The new machines cost $249,000 including installation. The company estimates that the equipment will have a residual value of $25,500. 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:

2. Prepare a depreciation schedule for six years using the double-declining-balance method. (Do not round your intermediate calculations.)

Year 1 2 3 4 5 6 Hours Used 2,900 1,800 1,900 2,100 1,900 1,900 Answer is complete but not entirely correct. UNIVERSITY CAR WASH Year 1 1 $ N Depreciation Schedule-Double-Declining-Balance End of year amounts Depreciation Accumulated Book Value Expense Depreciation $ 83,000 $ 83,000 166,000 55,333 138,333 110,667 36,889 175,222 73,778 24,593 199,815 49,185 16,395 216,210 32,790 23,685 X 239,895 % 25,500 $ 239,895 3 3 4 5 6 Total