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 $10$ 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