eBook Problem 9-05 Question 5 of 7- Check My Work An asset costs $300,000 and is classified as a ten-year asset. What is the annual depreciation expense for the first three years under the straight-line and the modified accelerated cost recovery systems of depreciation? Be sure to apply the half-year convention to straight-line depreciation. Use Exhibit 9.4 to answer the question. Round your answers to the nearest dollar. Straight-line depreciation: Year # 3 Depreciation expense 1 $ 2 $ 3 $ Accelerated cost recovery system of depreciation: Year Depreciation expense 1 $ 2 $ SSA E 5 4 RAN R MacBook Air Q4 56 96 & 6 7 8 T TW 9 66 9 Check My Work ( DE