A piece of newly purchased industrial equipment costs $983,000 and is classified as seven-year property under MACRS. The MACRS depreciation schedule is shown in Table 10.7. Calculate the annual depreciation allowances and end-of-the-year book values for this equipment. (Leave no cells blank - be certain to enter " 0 " wherever required. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) \begin{tabular}{|cccc|} \hline \multicolumn{4}{c|}{ Property Class } \\ \hline Year & Three- Year & Five-Year & Seven-Year \\ \hline 1 & 33.33% & 20.00% & 14.29% \\ 2 & 44.45 & 32.00 & 24.49 \\ 3 & 14.81 & 19.20 & 17.49 \\ 4 & 7.41 & 11.52 & 12.49 \\ 5 & & 11.52 & 8.93 \\ 6 & & 5.76 & 8.92 \\ 7 & & 8.93 \\ 8 & & 4.46 \\ \hline \end{tabular}.

1. A piece of newly purchased industrial equipment costs $983,000 and is classified as seven-year
property under MACRS. The MACRS depreciation schedule is shown in Table 10.7. Calculate
the annual depreciation allowances and end-of-the-year book values for this equipment. (Leave
no cells blank - be certain to enter " 0 " wherever required. Do not round intermediate
calculations and round your answers to 2 decimal places, e.g., 32.16.)
begin{tabular}{|cccc|} hline multicolumn{4}{c|}{ Property Class } hline Year & Three-
Year & Five-Year & Seven-Year hline 1 & 33.33% & 20.00% & 14.29% 2 & 44.45 &
32.00 & 24.49 3 & 14.81 & 19.20 & 17.49 4 & 7.41 & 11.52 & 12.49 5 & & 11.52 & 8.93
6 & & 5.76 & 8.92 7 & & 8.93 8 & & 4.46 hline end{tabular}