Sharpe Machining Company purchased industrial tools costing $80,000, which fall in the 3-year property class under MACRS. Use Appendix A and Exhibit 16-9 for your reference. (Use appropriate factor(s) from the tables provided.) Required: 1. Prepare a schedule of depreciation deductions assuming: a. The firm uses the accelerated depreciation schedule specified by MACRS. b. The firm uses the optional straight-line depreciation method and the half-year convention. 2. Calculate the present value of the depreciation tax shield under each depreciation method listed in requirement 1. Sharpe Machining Company's after-tax hurdle rate is 14 percent, and the firm's tax rate is 30 percent. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2 The firm uses the optional straight-line depreciation method and the half-year convention. (Round intermediate calculations and final answers to the nearest dollar amount.) Year Straight-Line Depreciation 1 $ 7,017 2 3 4