Mind Challenge, Incorporated, publishes innovative science textbooks for public schools. The company's management recently acquired the following two new pieces of equipment. Computer-controlled printing press: cost, $250,000; considered to be industrial equipment; expected useful life, 12 years. Duplicating equipment to be used in the administrative offices: considered to be office equipment; cost, $60,000; expected useful life, six years. The company uses straight-line depreciation for book purposes and the MACRS accelerated depreciation schedule for tax purposes. The firm's tax rate is 30 percent; its after-tax hurdle rate is 10 percent. Neither machine has any salvage value. Use Appendix A and Exhibit 16-9 for your reference. Note: Use appropriate factor(s) from the tables provided. Required: For each of the publishing company's new pieces of equipment: 1. Prepare a schedule of the annual depreciation expenses for book purposes. 2. Determine the appropriate MACRS property class. 3. Prepare a schedule of the annual depreciation expenses for tax purposes. 4. Compute the present value of the depreciation tax shield. Printing Press Office Equipment Prepare a schedule of the annual depreciation expenses for book purposes and determine the appropriate MACRS property class. Note: Round your "Percentage" answer to 2 decimal places (i.e., 0.1234 should be entered as 12.34). Round your "Discount factor" to 3 decimal places. Round your final answers to whole dollar. Year Straight-Line Depreciation for Book Purposes MACRS Depreciation Cash Flow: Tax Savings Discount Factor Present Value %= 1 2 3 4 5 6 7 8 9 10 11 12 Present value of tax shield % % % %= Printing Press Office Equipment > Complete this question by entering your answers in the tabs below. Printing Press Office Equipment Prepare a schedule of the annual depreciation expenses for tax purposes and compute the present value of the depreciation tax shield. Note: Round your "Percentage" answer to 2 decimal places (i.e., 0.1234 should be entered as 12.34). Round your "Discount factor" to 3 decimal places. Round your final answers to whole dollar. Straight-Line Year Depreciation for 1 2 3 4 Book Purposes MACRS Depreciation % % = %= Cash Flow: Tax Savings Discount Factor Present Value 5 6 Present value of tax shield