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A firm purchased an asset that cost $1 million 3 years ago. In addition, the firm paid $100,000 in installation costs. The asset is classified

A firm purchased an asset that cost $1 million 3 years ago. In addition, the firm paid $100,000 in installation costs. The asset is classified as MACRS 3-year property class (MACRS depreciation schedule for 3-year property class is 33.33%, 44.45%, 14.81%, and 7.41% for years 1, 2, 3 and 4respectively). What is the book value today (at the end of year 3)? a. $ 0 b. $ 74,100 c. $ 81,510 d. $148,100 e. $162,910

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