Problem 9-5 Calculating Depreciation [LO 2]

A piece of newly purchased industrial equipment costs $990,000 and is classified as seven-year property under MACRS. The MACRS depreciation schedule is shown in MACRS Table.

Required:

Calculate the annual depreciation allowances and end-of-the-year book values for this equipment. (Do not round intermediate calculations. Leave no cells blank. Enter "0" when necessary.)