PLease help me understand what i didwrong A piece of newly purchased industrial

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PLease help me understand what i didwrong

A piece of newly purchased industrial equipment costs $970,000 and is classified as seven-year property under MACRS. The MACRS depreciation schedule is shown in Table 107. 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.) Ending book Value Year Beginning Book Value Depreciation 970000 138710 O O 83 1290 O 83 1290 o 237650 593640 O 593640 O 169750 423890 O 302640 423890 121250 86330 302640 216310 O 86330 3 216310 129980 43650 3 129980 O 86330 43650 3 43650 3

Explanation / Answer

Answer:

Year Beginning book value Depreciation Ending book value 1 970000 138613 831387 2 831387 237553 593834 3 593834 169653 424181 4 424181 121153 303028 5 303028 86621 216407 6 216407 86524 129883 7 129883 86621 43262 8 43262 43262 0

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