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 $240,000 including installation. The company estimates that the equipment will have a residual value of $30,000. 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 1 Hours Used 2,600 2 2,100 3 2,200 4 1,800 5 6 1,600 1,700 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 Accumulated Depreciation Year Book Value Expense Depreciation 1 $ 79,999 $ 79,999 $ 160,001 2 53,333 3 4 5 6 Total $ 133,332