University Car Wash built a deluxe car wash across the street from campus. The new machines cost $255,000 including installation. The company estimates that the equipment will have a residual value of $22,500. 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: Hours Used 3.100 1,600 1,700 2,300 2,100 1.700 Required: 1. Prepare a depreciation schedule for six years using the straight-line method. (Do not round your intermediate calculations UNIVERSITY CAR WASH Depreciation Schedule-Straight-Line End of year amounts Depreciation Accumulated Expense Depreciation Book Value 8.500.000 $ 8.500.000 Year Total 8.500.000