A piece of newly purchased industrial equipment costs $1.475 million and is classified as seven-year property under MACRS. The MACRS depreciation schedule is shown in Table 10.7. Calculate the annual depreciation allowances and end-of-the-year book values for this equipment. (Leave no cells blank - be certain to enter "O" wherever required. Do not round intermediate calculations and enter your answers in dollars, not millions of dollars, rounded to 2 decimal places e.g., 1,234,567.89.) Year Beginning Book Value Depreciation Ending Book Value 1 2 34 5 6 7 8