Assuming a seven-year class of property, compute MACRS depreciation expense for each year of the assets life.

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Assuming a seven-year class of property, compute MACRS depreciation expense for each year of the asset’s life. If required, round your Depreciation Rates and Depreciation Expense answers to two decimal places. (Use Figure 18-3). MACRS method YearOriginal CostMACRS Depreciation Rates 7-Year Class of PropertyDepreciation Expense 1$%$ 2% 3% 4% 5% 6% 7% 8% Total$