Pete bought a new coffee machine for $6,000 to replace the old machine. Suppose the machine is estimated to have a life of 3 years and no residual value at the end of the life. What are the depreciation expenses over the 3-year period using the straight-line and MACRS methods (Please show work)

The 3-year depreciation schedule of the MACRS method is as follows.

Year 1 2 3 4

% 33.33 44.45 14.81 7.41

Year	Straight Line Depreciation Expense	MACRS Depreciation Expense
1
2
3
4
Total Depreciation

Art Angel operated a small seasonal lake marina, renting boats. He runs the business for only four months per year. He bought three new boats for $10,000 each. The new boats are estimated to have a 10-year life and a residual (trade-in) value of $1,200 each. Please answer the following questions. What are the depreciation expenses for the three boats per month using the straight-line method?