I have attached the 2 part question and the table that corresponds to the question. If you can explain how to go about the formula in solving these problems, that would really help my understanding. THANK YOU!!

An asset used in a four-year project falls in the five-year MACRS class (MACRS Table) for tax purposes. The asset has an acquisition cost of $8,600,000 and will be sold for $2,180,000 at the end of the project. What is the book value of the equipment at the end of Year 4? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Book value If the tax rate is 23 percent, what is the aftertax salvage value of the asset? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Aftertax salvage value Property Class 5-Year Year 3-Year 7-Year 1 2 3 4 5 6 7 33.33% 44.45 14.81 7.41 20.00% 32.00 19.20 11.52 11.52 5.76 14.29% 24.49 17.49 12.49 8.93 8.92 8.93 4.46