[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 $219,000 including installation. The company estimates that the equipment will have a residual value of $19,500. 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 5 6 Hours Used 2,800 1,400 1,500 2,500 2,300 2,000 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 Book Value Expense Depreciation Year 1 2 3 4 5 6 University Car Wash built a deluxe car wash across the street from campus. The new machines cost $219,000 including installation. The company estimates that the equipment will have a residual value of $19,500. 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 5 6 Hours Used 2,800 1,400 1,500 2,500 2,300 2,000 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 ScheduleActivity-Based End of year amounts Depreciation Accumulated Book Value Expense Depreciation Year 1 2 3 4 5 6 Total $ 0 University Car Wash built a deluxe car wash across the street from campus. The new machines cost $219,000 including installation. The company estimates that the equipment will have a residual value of $19,500. 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 5 6 Hours Used 2,800 1,400 1,500 2,500 2,300 2,000 Required: 1. Prepare a depreciation schedule for six years using the straight-line method. (Do not round your intermediate calculations.) X Answer is complete but not entirely correct. Year 1 2 UNIVERSITY CAR WASH Depreciation ScheduleStraight-Line End of year amounts Depreciation Accumulated Book Value Expense Depreciation $ 44,688 $ 44,688 X $ 174,312 x 22,344 X 67,032 X 151,968 X 23,940 X 90,972 X 128,028 X 39,900 130,872 X 88,128 X 36,708 X 167,580 X 51,420 X 31,920 X 199,500 19,500 $ 199,500 3 4 5 6 Total