is 8% dollar. Do not enter the $ sign; do not use the "," for the 1,000 place: e.g. $2743.12 would be 2743 . Show interest rates to one decimal place, e.g., 10.5% is 10.5 . Show all your work in your Excel file to receive full credit on this problem. If the asset is sold in year 3 for $1500, what is the taxable income for year 3? ? Does this result in depreciation recapture? If the asset was depreciated to its salvage value over the planning horizon using straight-line depreciation, what would be the depreciation allowance in year 3