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Required information [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 $237000 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 5 Hours Used 2,700 2,000 2,100 1,900 1,700 2,100 are cinn the activity-based method. (Round your "Depreciation Rate" to 2 decimal 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 Schedule-Activity-Based End of year amounts Depreciation Accumulated Book Value Expense Depreciation Year 1 2 3 4 5 6 Total 0 $
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