University Car Wash built a deluxe car wash across the street from campus. The new machines cost $258,000 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 1,500 1,600 2,400 2,200 2,100 Problem 7-5A Part 2 2. Prepare a depreciation schedule for six years using the double-declining balance method. (Do not round your intermediate calculations.) Year UNIVERSITY CAR WASH Depreciation Schedule Double Declining Balance End of year amounts Depreciation Accumulated Expense Book Value Depreciation $ 80,000 $ 36.000 $ 172.000 57.333 143,333 114,667 47.777 191.110 95,556 1 2 3 4 5 6 Total $ 191,110