Question: A lumber company purchases and installs a wood chipper for $200,000. The chipper is classified as a MACRS 7-year property. Its useful life is 10 years. The estimated salvage value at the end of 10 years is $25,000.
Using straight-line depreciation, the third year depreciation is:
Enter your answer as:12345
Round your answer. Do not use a dollar sign ("$"), any commas or a decimal point