7. (Lecture note page 12-14, 40-43, see Excel version of the example for detail) Suppose that a project has a depreciable investment of $1,000,000 and falls under the following MACRS year 5 class depreciation schedule year l : 20%; year 2: 32%; year 3 19.2%, year 4 11.5%; year 5: 11.5%, and year 6 58%. Calculate depreciation for year 2.(0.5 pts)