The 7-year MACRS Depreciation chart is as follows:

Year Percent

1 14.29%

2 24.49

3 17.49

4 12.49

5 8.93

6 8.92

7 8.93

8 4.46

If a company purchases a piece of equipment for $70,000 and chooses to depreciate using this chart, what will the depreciation expense be in Year 3?

Group of answer choices

$11,585.02

$12,243.00

$10,812.02

$11,995.76

For the project in Question 3, what will the book value be at the end of year 3?

Group of answer choices

$32,015.00

$28,982.00

$30,611.00

$31,514.00