You purchased an equipment for $110,000. Based on past information, you believe that you can sell the equipment for $17,000 when you are done with it in 6 years. The company's marginal tax rate is 20%. What is the depreciation expense each year and the after-tax salvage in year 6 using: 1. straight-line depreciation? 2. Three-year MACRS 3. Seven-year MACRS \begin{tabular}{|l|l|l|l|} \hline Year & 3 Year & 5 Year & 7 Year \\ \hline 1 & 33.33% & 20.00% & 14.29% \\ \hline 2 & 44.45% & 32.00% & 24.49% \\ \hline 3 & 14.81% & 19.20% & 17.49% \\ \hline 4 & 7.41% & 11.52% & 12.49% \\ \hline 5 & & 11.52% & 8.93% \\ \hline 6 & & 5.76% & 8.92% \\ \hline 7 & & & 8.93% \\ \hline 8 & & & 4.46% \\ \hline \end{tabular}