Question: Please assist with solving this problem Reversing Rapids Co. purchases an asset for $160,940. This asset qualifies as a five-year recovery asset under MACRS. The

Please assist with solving this problem

Reversing Rapids Co. purchases an asset for $160,940. This asset qualifies as a five-year recovery asset under MACRS. The five-year expense percentages for years 1, 2, 3, and 4 are 20.00%, 32.00%, 19.20%, and 11.52% respectively. Reversing Rapids has a tax rate of 30%. The asset is sold at the end of year 4 for $14,974.

Calculate accumulated depreciation over 4 years.Round the answer to two decimals.

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