McCanless Company recently purchased an asset for $2,400,000 that will be used in a 3-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 7.41 percent, respectively. What is the amount of depreciation in Year 2?

Multiple Choice

• $177,840

• $800,000

• $1,066,800

• $799,920

• $355,440