Please write out hand calculations. Answers are in bold.

1) Find the book value for each of the assets shown in the following table, assuming that MACRS depreciation is being used. MACRS period (years) Elapsed time since purchase (years) Asset Installed cost $950,000 40,000 96,000 350,000 1,500,000 a) 275,500; 26,800; 16,320; 280,000; 330,000