Required information Problem 7-5B Determine depreciation under three methods (LO7-4) Skip to question [The following information applies to the questions displayed below.] Cheetah Copy purchased a new copy machine. The new machine cost $120,000 including installation. The company estimates the equipment will have a residual value of $30,000. Cheetah Copy also estimates it will use the machine for four years or about 8,000 total hours. Actual use per year was as follows: Year Hours Used 1 2,500 2 2,200 3 1,900 4 2,000 Problem 7-5B Part 1 Required: 1. Prepare a depreciation schedule for four years using the straight-line method. (Do not round your intermediate calculations.)