An asset was purchased and installed for $$217,101.$ The asset is classified as MACRS $7-$year property. Its useful life is $10$ years. The estimated salvage value at the end of $10$ years is $$20,692.$ Using MACRS depreciation, the first year depreciation is:

Enter your answer as: $123456\mathrm{.}78$

$31,023\mathrm{.}73$ margin of error $\frac{+}{-}5$

Hints:

MACRS depreciation is dependent on the useful life determined by the property class

MACRS depreciation does not consider salvage value.