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

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Accounting

[The following information applies to the questions displayed below.]
University Car Wash purchased new soap dispensing equipment that cost $255,000 including installation. The company estimates that the equipment will have a residual value of $22,500. 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:
\table[[Year,Hours Used],[1,3,100],[2,1,600],[3,1,700],[4,2,300],[5,2,100],[6,1,700]]
Prepare a depreciation schedule for six years using the double-declining-balance method. (Do not round your intermediate calculations.)
\table[[UNIVERSITY CAR WASH],[Depreciation Schedule-Double-Declining-Balance,],[Year,\table[[Depreciation],[Expense]],\table[[Accumulated],[Depreciation]],Book Value,],[1,,,,],[2,,,,]]
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