). determine the Depreciation A firm is evaluating the acquisition of an asset that costs $69,600 and requires $4,270 in installation costs. If the firm depreciates the asset under MACRS, using a 5-year recovery period (see table depreciation charge for each year. i Data Table The annual depreciation expense for year 1 will be 8 . (Round to the nearest dollar.) The annual depreciation expense for year 2 will be s (Round to the nearest dollar.) The annual depreciation expense for year 3 will be s (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 4 will be s (Round to the nearest dollar.) 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 33% 2096 14% 45% 32% 25% 15% 19% 18% 7% 12% 12% 9% 000 inwon- 10 years 1094 18% 14% 12% 9% 12% 5% 896 7% 6% 6% 4% 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