A piece of newly purchased industrial equipment costs $1,140,000 and is classified as seven-year property under MACRS. The MACRS depreciation schedule is shown in the MACRS Table. Calculate the annual depreciation allowances and end-of-the-year book values for this equipment.

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

Property Class 5-Year Year 3-Year 7-Year 33.33% 44.45 14.81 7.41 2 3 4 5 6 20.00% 32.00 19.20 11.52 11.52 5.76 14.29% 24.49 17.49 12.49 8.93 8.92 8.93 4.46 8