Whidbey Inc. purchased some fixed assets three years ago at a cost of $15,000 and these assets are classified as 5-year property for MACRS. Since they no longer need these assets , they decide to sell them today at a price of $5,000. What is the current book value of these assets, i.e. the undepreciated amount at the time of the sale?

MACRS 5-year property

Year Rate

1 20.00%

2 32.00%

3 19.20%

4 11.52%

5 11.52%

6 5.76%