Agricultural machinery is purchased by Henredon for $250,000. It is expected to last 12 years. Calculate the depreciation deduction and book value for each year using MACRS-GDS allowances.

a. What is the MACRS-GDS property class? (year format)

b. Calculate the depreciation deduction using MACRS-GDS allowances for year 5 = $.

c. Calculate the book value using MACRS-GDS allowances foe year 5 = $.

d. Assume the asset is sold during the 5th year of use. Calculate the depreciation deduction using MACRS-GDS for year 5 = $

Agricultural machinery is purchased by Henredon for $250,000. It is expected to last 12 years. Calculate the depreciation deduction and book value for each year using MACRS-GDS allowances. a. What is the MACRS-GDS property class? Provide your answer in year (format example: 3 year) A/ Calculate the depreciation deduction using MACRS-GDS allowances for year 5 = $. (Please provide your response to the nearest integer with no comma or $ sign.) A Calculate the book value using MACRS-GDS allowances for year 5 = $. (Please provide your response to the nearest integer with no comma or $ sign.) A Assume the asset is sold during the 5th year of use. Calculate the depreciation deduction using MACRS-GDS allowances for year 5 = $. (Please provide your response to the nearest integer with no comma or $ sign.) A/