Depreciation Afirm is evaluating the acquisition of an asset that costs $69,700 and requires $4,020 In Installation costs. If the firm deprecates the asset under MACRS, using a 5-year recovery period (see table 3), determine the depreciation charge for each year. The annual depreciation expense for year 1 will be $(Round to the nearest dollar.) Data Table 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 arnual depreciation expense for year 4 will be s (Round to the nearest dollar.) (Click on the icon located on the top-right comer of the data table below in order to copy its contents into a spreadsheet.) The annual depreciation expense for year 5 will be S. (Round to the nearest dollar.) The annual depreciation expense for year 6 will be s (Round to the nearest dollar.) $). () 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 10 years 1 33% 20% 14% 10% 2 45% 32% 25% 18% 3 15% 19% 18% 14% 4 7% 12% 12% 12% 5 12% 9% 9% 6 5% 9% 7 9% 7% 8 4% 6% 9 6%. 10 6%. 11 Totals 100% 100% 100% 100% 'These percentages have been rounded to the nearest whole percent to simplify calculations while retaining 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 Enter your answer in each of the answer boxes