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Home Insert Draw CRS 1 060520 (3) Design Layout Tell me Times New... Share 18 V Comments Paste B IV al X, X A As A V ev Av Paragraph Styles Dictate MACRS1 due 0605, 1 point To understand how tax depreciation works, you need to have a solid understanding of how book (financial accounting) depreciation works. So we will begin with basic financial accounting (not tax MACRS depreciation). Prepare a table showing depreciation expense and book value for an asset depreciated using straight line depreciation. However, express all numbers as percentages of purchase price, and assume no residual value. For example, in year 1, depreciation expense is 20 percent and the ending book value is 80 percent. Complete for years 2 through 5. If this assignment seems very basic, it is. No tricks. You can use the attached template. Nothing Select an obl