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Quantum Electronic Services paid P its networked computer system. Both tax and book depreciation accounts are maintained. The annual tax recovery rate is based on the previous year's book value (BV), while the book depreciation rate is based on the original first cost (P). Use the rates listed below to calculate (a) annual depreciation, and (b) book values for each method. 16.8 $40,000 for Year of Ownership Tax rate, % ofBV Book rate, % of P 40 40 40 40 25 25 25 25 Tax depreciation: DiRate x BVI Book depreciation: DRate x P Quantum Electronic Services paid P its networked computer system. Both tax and book depreciation accounts are maintained. The annual tax recovery rate is based on the previous year's book value (BV), while the book depreciation rate is based on the original first cost (P). Use the rates listed below to calculate (a) annual depreciation, and (b) book values for each method. 16.8 $40,000 for Year of Ownership Tax rate, % ofBV Book rate, % of P 40 40 40 40 25 25 25 25 Tax depreciation: DiRate x BVI Book depreciation: DRate x P