Required information [ The following information applies to the questions displayed below.] University Car Wash built a deluxe car wash across the street from campus. The new machines cost $225,000 including installation. The company estimates that the equipment will have a residual value of $22,500. 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. Year Hours Used 3, 100 1,608 1,700 2, 308 2, 108 1, 708 2. "Prepare a depreciation schedule for six years using the double-declining-balance method. (Do not round your intermediate calculations.) UNIVERSITY CAR WASH Depreciation Schedule-Double-Declining-Balance End of year amounts Year Depreciation Accumulated Expense Depreciation Book Value 5 67.500 67 500 47 250 114 750 33.075 147 825 23 153 170,978 16 207 187.185 11 345 196.529 Total S 196.530