BOTH 1 AND 2

A piece of newly purchased industrial equipment costs $974,775.00 and is classified as a seven-year property under MACRS. What is the book value of this piece of equipment at the end of year 3 ? Answer format: Currency: Round to: 2 decimal places. Attempts Remaining: Infinity #2 A firm purchases a new work cell for \$288,917.00. The asset will be depreciated using a 3-year MACRS schedule. What is the book value of the asset after the third year? (Assume that there is no depreciation allowed at year 0) Answer format: Currency: Round to: 2 decimal