7. A piece of equipment used for research is purchased for $500,000 and is to be depreciated over a 5 year period. If the salvage value at the end of its depreciable life is $50,000, show the yearly depreciation using:
   1. Straight-line method
   2. Double declining balance method
   3. MACRS method (use the appropriate property class for the depreciable life)
   4. Why would you choose one method over another?