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 3 4 5 6 Hours Used 3,000 1,200 1,300 2,700 2,500 1,300 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.) UNIVERSITY CAR WASH Depreciation Schedule Activity-Based End of year amounts Depreciation Accumulated Expense Book Value Depreciation Year 1 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.) UNIVERSITY CAR WASH Depreciation Schedulo-Activity-Based End of year amounts Depreciation Accumulated Expense Book Value Depreciation Year 1 2 3 4 5 6 Total $ 0