Find the depreciation for the first year using MACRS cost$-$recovery rates for the property placed in service at midyear. The property is a $3-$year property and was purchased for $$54,970.$

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The depreciation is $ $($Round to the nearest cent as needed.$)$

MACRS Table

$\backslash$table$[[$Depreciation rate for recovery period$],[$Year$,3-$Year,$5-$Year,$7-$Year,$10-$ Year,$15-$Year,$20-$ Year$],[1,33\mathrm{.}33\%,20\mathrm{.}00\%,14\mathrm{.}29\%,10\mathrm{.}00\%,5\mathrm{.}00\%,3\mathrm{.}750\%$