Depreciation A firm is evaluating the acquisition of an asset that costs $64,000 and requi...

Depreciation A firm is evaluating the acquisition of an asset that costs $64,000 and requires $4,000 in installation costs. If the firm depreciates the asset under MACRS, using a 5-year recovery period (see Table 4.2 for the applicable depreciation percentages), determine the depreciation charge for each year.

TABLE 4.2 Rounded Depreciation Percentages by Recovery Year Using MACRS for First Four Property Classes