Depreciation

Daisy Inc, purchased a manufacturing equipment that costs RM$2\mathrm{.}3$ million. The transportation and installation cost of the equipment was RM$50,000$ on top of the purchase price. The equipment has a life of $7$ years and will be sold at year $6$ for $12\%$ of the equipment's purchase price. The company tax rate is $24\%.$

The MACRS rate is as follows:

Year Rate

$114\mathrm{.}29\%$

$224\mathrm{.}49\%$

$317\mathrm{.}49\%$

$412\mathrm{.}49\%$

$58\mathrm{.}93\%$

$68\mathrm{.}92\%$

$78\mathrm{.}93\%$

$84\mathrm{.}46\%$

$1)$ The asset cost to be depreciated is RM$\_\_\_\_\_\_\_\_\_\_\_\_\_\_.$

$2)$ Depreciation expenses in Year $1$ is RM$\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_.$

$3)$ Depreciation expenses in Year $4$ is RM$\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_.$

$4)$ Accumulated depreciation in Year $2$ is RM$\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_.$

$5)$ Book value at Year $5$ is RM$\_\_\_\_\_\_\_\_\_\_\_\_\_\_.$

$6)$ Accumulated depreciation in Year $6$ is RM$\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_.$

$7)$ Book Value at Year $7$ is RM$\_\_\_\_\_\_\_\_\_\_\_\_.$

$8)$ The equipment will be sold at RM$\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_.$

$9)$ Gain$/$ Loss on Disposal is RM$\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_.$

$($If it is a loss in disposal, state your answer as negative, $-$xxx$)$

$10)$ After tax cash flow$/$ Tax Shield on disposal is RM$\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_.$

$($If it is a tax shield, state your answer as negative, $-$xxx$)$