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 $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 1 2 Hours Used 3,000 1,200 1,300 2,700 2,500 1,300 4 5 6 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. UNIVERSITY CAR WASH Depreciation Schedule-Double-Declining-Balance End of year amounts 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. UNIVERSITY CAR WASH Depreciation Schedule-Double-Declining-Balance End of year amounts Depreciation Accumulated Year Expense Depreciation Book Value 1 $ 88,991 $ 88,991 $ 178,009 2 59,330 148,321 118,679 3 39,560 187,877 79,123 4 26,372 214,249 52.751 5 17,582 231,831 35,169 6 11,722 X 243,553 23,447 Total $ 243,557 >>>