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An asset was purchased and installed for $263000. The asset is classified as MACRS 7-year property. Its useful life is 10 years. The estimated salvage

An asset was purchased and installed for $263000. 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 $26712. Using MACRS depreciation, the first year depreciation is:

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