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 1,600 1,700 2,300 2,100 1,700 3. Prepare a depreciation schedule for six years using the activity-based method. (Round your "Depreciation Rate" to 2 decimal places and use this amount in all subsequent calculations.) Year UNIVERSITY CAR WASH Depreciation Schedule-Activity-Based End of year amounts Depreciation Accumulated Book Value Expense Depreciation $ 50,220 $ 50,220 s 174,780 17,820 68,040 156,960 19,440 87,480 137,520 45,360 132,8401 92,160 42,120 174,960 50,040 19,440 194,4001 30,600 $ 194,400 Total