A five year life machine is purchased for $500,000. Using the tax code specified depreciation rates, what are the depreciation amounts and what is the book value of the machine in each year? it is sold in the fifth year after purchase price for $80,000. Will there be income tax, if so on what amount?

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Tax Code Table Yeol Life Gay Property 1 0.3333 2 0.4445 3 0.1481 4 0.0741 Say Property 0.2000 0.3200 0.2400 0.1600 0.0800 5 D BV t BV-1 0 1 2 3 4 5