A piece of newly purchased industrial equipment costs $1,120,000 and is classified as seven-year property under MACRS. The MACRS depreciation schedule is shown in MACRS Table.

Required:

Calculate the annual depreciation allowances and end-of-the-year book values for this equipment. (Do not include the dollar signs ($). Enter rounded answers as directed, but do not use the rounded numbers in intermediate calculations. Leave no cells blank. You must enter "0" for the answer to grade correctly.)

Beginning Year	Beginning Book Value	Depreciation Allowance	Ending Book Value
1	$	$	$
2
3
4
5
6
7
8

rev: 07_08_2011