Question 1 (1 point) Genetic Insights Co. purchases an asset for $17,089. This asset qualifies as a seven- year recovery asset under MACRS. The seven-year fixed depreciation percentages for years 1, 2, 3, 4, 5, and 6 are 14.29%, 24.49%, 17.49%, 12.49%, 8.93%, and 8.93%, respectively. Genetic Insights has a tax rate of 30%. The asset is sold at the end of six years for $4,752. Calculate accumulated depreciation over 6 years. Round the answer to two decimals. Your Answer: Answer Next Page Page 1 of 10