Johnson Industries purchased a metal-working lathe for $38,000. This item will be used for business 90% of the time. Accountants elected to take a $18,000 section 179 deduction and utilize the special depreciation allowance of 50%. Prepare a depreciation schedule (in $) using MACRS. Round all dollar amounts to the nearest cent. Johnson Industries MACRS Depreciation ScheduleMetaI-working Lathe End of Year Basis for Depreciation X Recovery Percent = MACRS Depreciation Deduction Accumulated Depreciation Book Value 1 it: x 33.33% 2 $ :] x 44.45% 3 $ :] x 14.81% 4 $ :] x 7.41% i i i i D i i i H i D l