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An automobile with a purchase price of $32,220 falls under the MACRS classification for a 5-year property. Using the depreciation rates below, what is the
An automobile with a purchase price of $32,220 falls under the MACRS classification for a 5-year property. Using the depreciation rates below, what is the dollar amount of the year 3 depreciation for the vehicle? Year 1: 20%; Year 2: 32%; Year 3: 19.2%; Year 4: 11.52%; Year 5: 11.52%; Year 6: 5.76%.
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