Calculate the annual depreciation expense, accumulated depreciation, book value, and after tax salvage value associated with an asset given the following information:

Initial value of asset (including shipping and installation): $10 million

Useful life of the asset is 16 years (although the company plans to operate it for the projects life of only ten years and then sell it). The company uses straight line depreciation for its depreciable assets.

Expected salvage value (market price) of the asset upon termination of project: $4.5 million.

Marginal tax rate: 25%