University Car Wash built a deluxe car wash across the street from campus. The new machines cost $219,000 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 2,800 2 1,400 3 1,500 4 2,500 5 2,300 6 2,000 Required: 1. Prepare a depreciation schedule for six years using the straight-line method.