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Required information [The following information applies to the questions displayed below.] University Car Wash purchased...

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Accounting

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Required information [The following information applies to the questions displayed below.] University Car Wash purchased new soap dispensing equipment that cost $246,000 including installation. The company estimates that the equipment will have a residual value of $27,000. 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: 1. Prepare a depreciation schedule for six years using the straight-line method. (Do not round your intermediate calculations.)

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