Penguin Network Warehouse, LLC ("PNW, LLC") acquired the following assets last year Industrial Refrigeration Equipment on January 23 Network server computer equipment on May 4 Office furniture on June 12 Required 1. Using the below MACRS depreciation table, leverage VLOOKUP formulas to calculate regular depreciation for each asset. 2. Sum the total depreciation for each year. (Hint: Use an IF formula with "Yes" and "No" to respond to the Fully Depreciated question.) Navigation: 1. Use the Open Excel in New Tab button to launch this question 2. When finished in Excel, use the Save and Return to Assignment button in the lower right to return to Connect. X Open Excel in new tabHint: Use an IF formula with "Yes" and "No" to respond to the Fully Depreciated que Depreciation Rate for Recovery Period Year 3 5 7 33.33% 20.00% 14.29% 2 44.45% 32.00% 24.49% 3 14.81% 19.20% + 17.49% 7.41% 11.52% 12.49% 11.52% 8.93% 5.76% 8.92% 8.93% 8 4.46% Asset: Industrial Refrigeration Equipment Class Life: Basis: $1,442,679 Graded Worksheet25 Asset: Industrial Refrigeration Equipment 26 Class Life: 27 Basis: $1,442,679 28 29 Deprecialton 30 Year Rate Amount 31 + 32 2 33 34 4 35 5 36 6 37 7 38 8 39 Total 40 41 Fully Depreciated? Graded Worksheet Workbook StatisticsA B D Asset: Network Server Computer Equipment Class Life: Basis: $1,152,289 Depreciaiton + Year Rate Amount 2 3 4 5 6 2 18 Total 59Asset: Office Furniture Class Life: Basis: $1,094,033 Depreciaiton + Year Rate Amount 2 3 A Total = Graded Worksheet Workbook Statistics