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University Car Wash purchased new soap dispensing equipment that cost $240,000 including installation. The company estimates that the equipment will have a residual value of

image text in transcribedimage text in transcribed University Car Wash purchased new soap dispensing equipment that cost $240,000 including installation. The company estimates that the equipment will have a residual value of $30,000. University Car Wash also estimates it will use the machine for six years or about 12,000 total hours. Actual use per year was as follows: Prepare a depreciation schedule for six years using the double-declining-balance method. (Do not round your intermediate alculations.) [The following information applies to the questions displayed below.] University Car Wash purchased new soap dispensing equipment that cost $240,000 including installation. The company estimates that the equipment will have a residual value of $30,000. University Car Wash also estimates it will use the machine for six years or about 12,000 total hours. Actual use per year was as follows: Required: . Prepare a depreciation schedule for six years using the straight-line method. (Do not round your intermediate calculations.)

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