An asset costs $250,000 and is classified as a ten-year asset. What is the annual depreciation expense for the first three years under the straight-line and the modified accelerated cost recovery systems of depreciation? Be sure to apply the half-year convention to straight-line depreciation. Round your answers to the nearest dollar.

Straight-line depreciation:

Year. Depreciation expense

1 $

2 $

3 $

Accelerated cost recovery system of depreciation:

Year Depreciation expense

1. $

2 $

3 $