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Use the table below to answer this question. MACRS 5-year property Year Rate 1 20.00% 2 32.00% 3 19.20% 4 11.52% 5 11.52% 6 5.76%
| Use the table below to answer this question. |
| MACRS 5-year property | |
| Year | Rate |
| 1 | 20.00% |
| 2 | 32.00% |
| 3 | 19.20% |
| 4 | 11.52% |
| 5 | 11.52% |
| 6 | 5.76% |
| Sun Lee's Furniture just purchased some fixed assets classified as 5-year property for MACRS. The assets cost $39,000. What is the amount of the depreciation expense for the third year? |
| $7,488 | |
| $12,480 | |
| $6,240 | |
| $3,744 | |
| $4,493 |
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