This question: $5$ point$($s$)$ possible

Depreciation A firm is evaluating the acquisition of an asset that costs $$68,700$ and requires $$3,840$ in installation costs. II the firm depreciates the asset under MACRS, using a five$-$year recovery period $($see table $),$ determine the depreciation charge for each year.

The annual depreciation expense for year $1$ will be : $($Round to the nearest dollar.$)$

The annual depreciation expense for year $2$ will be: $($Round to the nearest dollar.$)$

The annual depreciation expense for year $3$ will be: $($Round to the nearest dollar.$)$

Data table

The annual depreciation expense for year $4$ will bes $($Round to the nearest dollar.$)$

The annual depreciation expense for year $5$ will be : $($Round to the nearest dollar.$)$

The annual depreciation expense for year $6$ will be $\frac{1}{?}($Round to the nearest dollar.$)$

$($Click on the icon here $$ in order to copy the contents of the data table below into a spreadsheet.$)$

Rounded Depreciation Percentages by Recovery Year Using MACRS for First Four Property Classes

Percentage by recovery year$*$

$\backslash$table$[[$Recovery year,$3$ years,$5$ years,$7$ years,$10$ years$],[1,33\%,20\%,14\%,10\%],[2,45\%,32\%,25\%,18\%],[3,15\%,19\%,18\%,14\%],[4,7\%,12\%,12\%,12\%],[5,,12\%,9\%,9\%],[6,,5\%,9\%,8\%],[7,,,9\%,7\%],[8,,,4\%,6\%],[10,,,,6\%],[11,,,,6\%],[$Totals$,100\%,100\%,,4\%],[\text{'}$These percentages have been rounded to the nearest whole percent to simplify calculations while$]]$ retaining realism. To calculate the actual depreciation for tax purposes, be sure to apply the actual unrounded percentages or directly apply double$-$declining balance $(200\%)$ depreciation using the half$-$year convention.