Rounded Depreciation Percentages by Recovery Year Using MACRS for First Four Property Classes Recovery year 1 2345678 9 10 11 Totals 3 years 33% 45% 15% 7% Percentage by recovery year 5 years 20% 32% 19% 12% 12% 5% 7 years 14% 25% 18% 12% 9% 9% 9% 4% 10 years 10% 18% 14% 12% 9% 8% 7% 6% 6% 6% 4% 100% 100% to 100% 100% "These percentages have been rounded to the nearest whole percent to simplify calculations while retaining realism. To calculate the actual depreciation for tax purposes, be sure to apply the actual unrounded percentages or directly apply double-declining balance (200%) depreciation using the half-year convention Depreciation In early 2019, Sosa Enterprises purchased a new machine for $10,500 to make cork stoppers for wine bottles. The machine has a 3-year recovery period and is expected to have a salvage value of $1,850 Develop a depreciation schedule for this asset using the MACRS depreciation percentages in the table Complete the depreciation schedule for the asset below: (Round the percentage to the nearest integer and the depreciation to the nearest dollar) Depreciation Schedule Year Cost (1) $10,500 Percentage (2) GLITE Depreciation (1) x (2) In