value 10.00 points Problem 9-5 Calculating Depreciation [LO 2] A piece of newly purchased industrial equipment costs $1,040,000 and is classified as seven-year property under MACRS. The MACRS depreciation schedule is shown in MACRS Table Required: Calculate the annual depreciation allowances and end-of-the-year book values for this equipment. (Do not round intermediate calculations. Leave no cells blank. Enter "O" when necessary.) Beginning Year Beginning Book Value Depreciatiorn Allowance Ending Book Value 6