The Big-Deal Company has purchased new furniture for their offices at a retail price of $100,000. An additional $20,000 has been charged for insurance, shipping and handling. The company expects to use the furniture for 8 years (useful life = 8 years) and then sell it at a salvage (market) value of $10,000. If furniture is classified under MACRS as a 7year property, what is the book value at the three years?

there is no other info for this question!