A piece of newly purchased industrial equipment costs $966,000 and is classified as seven-year property under MACRS. The MACRS depreciation schedule is shown in Table 10.7. Calculate the annual depreciation allowances and end-of-the-year book values for this equipment. (Leave no cells blank - be certain to enter "0" wherever required. Round your answers to 2 decimal places. (e.g., 32.16))
Year Beginning Book Value Depreciation Ending book Value
1 $ $ $
2 $ $ $
3 $ $ $
4 $ $ $
5 $ $ $
6 $ $ $
7 $ $ $
8 $ $ $