Use the table below to an

Use the table below to an

Use the table below to answer this question.MACRS 5-year propertyYear Rate1 20.00%2 32.00%3 19.20%4 11.52%5 11.52%6 5.76%Sun Lee’s Furniture just purchased some fixed assets classified as 5-year property for MACRS. The assets cost $53,000. What is the amount of the depreciation expense for the first year?

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