Firm ABC bought a piece of equipment 6 years ago, which firm XYZ has just purchased for $1,500,000. The equipment is expected to be operational for 20 more years. If its class life is 12 years, what property class does the equipment belong to under MACRS ( GDS)? What is the depreciation charged for the equipment 5 years after firm XYZs purchase? Also, find the BV at the end of 5^th year if the equipment is disposed of then.