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A piece of newly purchased industrial equipment costs $1,020,000 and is classified as seven-year property...

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Finance

A piece of newly purchased industrial equipment costs $1,020,000 and is classified as seven-year property under MACRS (MACRS Schedule). Calculate the annual depreciation allowances and end-of-the-year book values for this equipment.
Note: Do not round intermediate calculations and round your answers to the nearest whole number, e.g.,32. Leave no cells blank. Enter "O" when necessary.
\table[[Year,\table[[Beginning],[Book Value]],\table[[Depreciation],[Allowance]],\table[[Ending Book],[Value]]],[1,,,],[2,,,],[3,,,],[4,,,],[5,,,],[6,,,],[7,,,],[8,,,]]
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