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5. Calculating Depreciation. A piece of newly purchased industrial equipment costs $715,000 and is classified as seven-year property under MACRS. Calculate the annual depreciation allowances

5. Calculating Depreciation. A piece of newly purchased industrial equipment costs $715,000 and is classified as seven-year property under MACRS. Calculate the annual depreciation allowances and end-of-the-year book values for this equipment

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