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A piece of newly purchased industrial equipment costs $984,000 and is classified as seven-year property under MACRS. The MACRS depreciation schedule is shown in Table 10.7. Calculate the annual depreciation allowances and end-of-the-year book values for this equipment. (Leave no cells blank - be certain to enter "0" wherever required. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
YearBeginning Book ValueDepreciationEnding book Value1$ $ $ 2$ $ $ 3$ $ $ 4$ $ $ 5$ $ $ 6$ $ $ 7$ $ $ 8$ $ $
Discuss how you will be applying the material you have learned in this class in your current or future career.
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