Cullumber Corporation just purchased computing equipment for $17,000. The equipment will be depreciated using a five-year MACRS depreciation schedule. If the equipment is sold at the end of its fourth year for $12,000, what are the after-tax proceeds from the sale, assuming the marginal tax rate is 30 percent? (Round answer to 2 decimal places, e.g. 5,275.25.) EXHIBIT 11.5 MACRS Depreciation Schedules by Allowable Recovery Period The MACRS schedule lists the tax depreciation rates that firms use for assets placed into service after the Tax Reform Act of 1986 went into effect. The table indicates the percentage of the cost of the asset that can be depreciated in each year during the period that it is being used. Year 1 is the year in which the asset is first placed into service. Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 3-Year 33.33% 44.45 14.81 7.41 5-Year 7-Year 10-Year 15-Year 20-Year 20.00% 14.29% 10.00% 5.00% 3.75% 32.00 24.49 19.20 11.52 11.52 5.76 17.49 After-tax proceeds $ 12.49 8.93 8.92 8.93 4.46 18.00 14.40 11.52 9.22 7.37 6.55 6.55 6.56 6.55 3.28 9.50 8.55 7.70 6.93 6.23 5.90 5.90 5.91 5.90 5.91 5.90 5.91 5.90 5.91 2.95 7.22 6.68 6.18 5.71 5.29 4.89 4.52 4.46 4.46 4.46 4.46 4.46 4.46 4.46 4.46 4.46 4.46 4.46 4.46 2.24 Total 100.00% 100.00% 100.00% 100.00% 100.00 % 100.00%

Cultumber Corporation just purchased computing equipment for $17,000. The equipment will be depreciated using a after-tax proceeds from the sale, assuming the marginul tax rate is 30 percene? (Round answer to 2 decimaf places, e.3. 5.275.25.) EXHIBIT 11.5 MACRS Depreciation Schedules by Allowable Recovery Period The MACRS schedule lists the tax depreciation rates that frms use for msets placed into service after the Tax Reform Act of 1986 went into etfect. The table indicates the percentage of the cost of the axset that can be depreciated in each year during the perlod that it is being used. Year 1 is the vear in which the asuet is first placed into service