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 Hours Used 3,000 1,200 1,300 2,700 2,500 1,300 5 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 Depreciation Accumulated Year Expense Depreciation Book Value 1 2 3 Year 1 2 3 4 Hours Used 3,000 1,200 1,300 2,700 2,500 1,300 6 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 Depreciation Accumulated Year Book Value Expense Depreciation 1 2 3 4 5 6 Total $