The equipment costs $5 million, and depreciate at 5 percent per year on a straight-line basis and would be able to be sold for 40 percent of its net book value. Tax rate 22.0053%. How to count the equipment depreciation?

The following depreciation is right???

Year1 : $5 * 5%

Year2: $5 * (1-5%) *5%

Year3: $5 * (1-5%)^2 * 5%

Year4: $5 * (1-5%)^3 * 5%