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McCanless Co. recently purchased an asset for $3,460,000 that will be used in a 2-year project. The asset is in the 4-year MACRS class. The

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McCanless Co. recently purchased an asset for $3,460,000 that will be used in a 2-year project. The asset is in the 4-year MACRS class. The depreciation percentage each year is 33.33 percent, 44.45 percent, 14.81 percent, and 741 percent, respectively a. What is the amount of depreciation in Year 1 and 2? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What is the book value in Year 2? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g.. 32.16.) a. Year 1 depreciation = $0 Year 2 depreciation - SD b. Book Value in Year 2 - $

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