Firm ABC bought a piece of equipment 6 years ago, which firm XYZ has just purchased for $1,500,000. The equipment is expected to be operational for 20 more years. If its class life is 12 years, what property class does the equipment belong to under MACRS (GDS)? What is the depreciation charged for the equipment 5 years after firm XYZ's purchase? Also find the BV at the end of 5th year if the equipment is disposed of then.