Question: A developer puts $35,000 of exercise equipment into a community gym. She plans to sell the equipment after 5 years with a planned residual

A developer puts $35,000 of exercise equipment into a community gym. She plans to sell the equipment after 5 years with a planned residual value of $5,500. Using straight line calculation the book value of the equipment is $ choose your answer... V at the end of three years and the equipment has depreciated to a value of $ choose your answer... using a 7-year MACRS schedule (hint: google IRS resource.)

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