Please show formulas P1115 DepreciationA firm is evaluating the acquisition of an asset that costs $64,000 and requires $4,000 in installation costs. If the firm depreciates the asset under MACRS, using a 5-year recovery period (see Table 4.2 on page 120 for the applicable depreciation percentages), determine the depreciation charge for each year
PROBLEM 11-15
Year	Depreciation Schedule Cost	%		Amount
1	$68,000	20%
2	$68,000	32%
3	$68,000	19%
4	$68,000	12%
5	$68,000	12%
6	$68,000	5%