Depreciation A firm is evaluating the acquisition of an asset that costs $69,100 and requires $3,620 in installation costs. If the firm depreciates the asset under MACRS, using a five-year recovery period (see table_ ), determine the depreciation charge for each year. The annual depreciation expense for year 1 will be $ (Round to the nearest dollar.) The annual depreciation expense for year 2 will be $. (Round to the nearest dollar.) The annual depreciation expense for year 3 will be $. (Round to the nearest dollar.) The annual depreciation expense for year 4 will be $. (Round to the nearest dollar.) The annual depreciation expense for year 5 will be $. (Round to the nearest dollar.) The annual depreciation expense for year 6 will be $. (Round to the nearest dollar.) "I hese percentages have been rounded to the nearest whole percent to smplity calculatons whle retanng realism. To calculate the actual depreciation for tax purposes, be sure to apply the actual unrounded percentages or directly apply double-declining balance (200%) depreciation using the half-year convention