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Please answer the following question. Please show me the formula's used and the steps taken to get the answer. Thank you. A firm is considering

Please answer the following question. Please show me the formula's used and the steps taken to get the answer. Thank you.

A firm is considering purchasing an asset that will cost $1 million. Other depreciable costs include $100,000 in installation costs. If the asset is classified in the 3-year class, what is the annual depreciation for each year for this asset using the fixed depreciation percentages given by MACRS? (The percentages are 33.33%, 44.45%, 14.81%, and 7.41%, respectively.)

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