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University Car Wash purchased new soap dispensing equipment that cost $216,000 including installation. The company estimates that the equipment will have a residual value of

University Car Wash purchased new soap dispensing equipment that cost $216,000 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 Hours Used
1 2,900
2 1,300
3 1,400
4 2,600
5 2,400
6 1,900

2. Prepare a depreciation schedule for six years using the double-declining-balance method. (Do not round your intermediate calculations.)

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