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 $237,000 including installation. The company estimates that the equipment will have a residual value of $28,500. 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 1 2 3 4 Hours Used 2,700 2,000 2,100 1,900 1,700 2,100 Required: 1. Prepare a depreciation schedule for six years using the straight-line method. (Do not round your intermediate calculations.) Year 1 UNIVERSITY CAR WASH Depreciation Schedule Straight-Line End of year amounts Depreciation Accumulated Expono Book Value Depreciation $ 79,000 $ 79,000 $ 158,000 52,667 131,667 105,333 35,111 166,778 70.222 23.407 190,185 46,815 15,605 205,790 31,210 2,710 208,500 28,500 2 4 5 6