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A piece of newly purchased industrial equipment costs $1,060,000, has a salvage value of $230,000 and is classified as a five-year property under MACRS.Calculate the

A piece of newly purchased industrial equipment costs $1,060,000, has a salvage value of $230,000 and is classified as a five-year property under MACRS.Calculate the annual depreciation allowances and the end-of-year book values for this equipment.

I am not quite sure how to include the salvage value into this problem set...

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