What is the amount of the depreciation expense

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Reference no: EM13269455

Use the table below to answer this question.
MACRS 5-year property
Year Rate
1 20.00%
2 32.00%
3 19.20%
4 11.52%
5 11.52%
6 5.76%
Sun Lee's Furniture just purchased some fixed assets classified as 5-year property for MACRS. The assets cost $53,000. What is the amount of the depreciation expense for the first year?

Reference no: EM13269455

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