Calculate the annual depreciation allowances

Reference no: EM131032571

A piece of newly purchased industrial equipment costs $975,000 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. Round your answers to 2 decimal places. (e.g., 32.16))

Table 10.7

Table 10.7	(BLANK)	(BLANK)	(BLANK)
Property Class	(BLANK)	(BLANK)	(BLANK)
Year	Three-Year	Five-Year	Seven-Year
1	33.33%	20.00%	14.29%
2	44.45	32	24.29
3	14.81	19.20	17.49
4	7.41	11.52	12.49
5	(BLANK)	11.52	8.93
6	(BLANK)	5.76	8.92
7	(BLANK)	(BLANK)	8.93
8	(BLANK)	(BLANK)	4.46

Please complete the following table.

Year	Beg. Book Value	Depreciation	Ending Book Value
1	$______	$______	$______
2	$______	$______	$______
3	$______	$______	$______
4	$______	$______	$______
5	$______	$______	$______
6	$______	$______	$______
7	$______	$______	$______
8	$______	$______	$0.00

Reference no: EM131032571

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