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Harrison, a facilities manager, would like to purchase a new commercial water filtration system for a building he manages. He estimates this would cost $$12,000$ and would have a salvage value of $$650$ after $10$ years of use. Using straight$-$line depreciation, what would be the depreciation allowance and book value after $7$ years of use?

Depreciation allowance:

Book value:

Carry all interim calculations to $5$ decimal places and then round your final answers to $2$ decimal places. The tolerance is $+-3\mathrm{.}00.$