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A project requires $69,396 of equipment that is classified as a 7-year property. What is the depreciation expense in Year 5 given the following MACRS

A project requires $69,396 of equipment that is classified as a 7-year property. What is the depreciation expense in Year 5 given the following MACRS depreciation allowances, starting with year one: 14.29, 24.49, 17.49, 12.49, 8.93, 8.92, 8.93, and 4.46 percent? Enter your answer rounded off to two decimal points.

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