! Required information [The following information applies to the questions displayed below) f3 University Car Wash built a deluxe car wash across the street from campus. The new machines cost $267.000 including Installation. The company estimates that the equipment will have a residual value of $24,000. University Car Wash also estimates it will use the machine for six years or about 12,000 total hours. Actual use per year was as follows: Year Hours Used 3,000 1,200 1,300 2,700 2,500 1,300 1 2 3 4 5 2. Prepare a depreciation schedule for six years using the double-declining-balance method. (Do not round your intermediate calculations.) Year UNIVERSITY CAR WASH Depreciation Schedule-Double-Declining-Balance End of year amounts Depreciation Accumulated Book Value Expense Depreciation $ 88,991 $ 88,991 $ 178,009 59,330 148,321 118,679 39,556 187,877 79,123 1 2 3 education.com 252Fmghmidwar Saved Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion Help Say 1,300 2,700 2.500 1,300 (3 2. Prepare a depreciation schedule for six years using the double-declining-balance method. (Do not round your intermediate calculations.) Answer is complete but not entirely correct . Year 1 2 UNIVERSITY CAR WASH Depreciation Schedule-Double-Declining-Balance End of year amounts Depreciation Accumulated Expense Depreciation Book Value $ 88,991 $ 88,991 $ 178,009 59,330 148,321 118,679 39,556 187,877 79,123 26,372 214,249 52 751 17,582 231,831 35,169 11.722 243,553 23,447 X $ 243,553 3 4 5 6 Total