Tri-X industries want to expand its production facilities at a cost of $500,000. The equipment is expected to have an economic life of 8 years, have a 7-year property class and have a resale value of $55,000 after eight years of use. The annual operating cost is expected to be $12,000 for the first year and to increase by $750 per year thereafter. If the equipment is purchased, Tri-X wants to compare the straight line depreciation method to the MACRS method. If the MARR is 9% for present worth approximations, should Tri-X use the straight line method or MACRS method? Create a depreciation schedule for both methods. Show all of your work.