Depreciation A firm is evaluating the acquisition of an asset that costs $64,000 and requires $4,000 in installation costs. If the firm depreciates the asset under MACRS, using a 5-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.) Data Table 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.) (Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.) The annual depreciation expense for year 6 will be $ (Round to the nearest dollar.) N Rounded Depreciation Percentages by Recovery Year Using MACRS for First Four Property Classes Percentage by recovery year* Recovery year 3 years 5 years 7 years 33% 20% 14% 45% 32% 25% 15% 19% 12% 12% 10 years 10% 18% 14% 18% 7% 5% OO 000) 10 11 6% 4% Totals 100% 100% 100% 100% *Thaco narrantanes have heon rounded to the nearest whole narrant to cimnlifu calculations while Print Done