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Write formulas to calculate the total depreciation expense and to display the correct values in...

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Accounting

Write formulas to calculate the total depreciation expense and to display the correct values in the following three columns: Age, Depreciation Rate, and Depreciation Expense.

Please include the formula!!image

1 MACRS Depreciation Rate Property Class Depreciation rate ASSET Depreciation Schedule Current Year: 2020 2 3 Depreciation Expense A A 1 4 Age 5 6 7 A NA 3 8 20% 20% 20% 20% 20% 0% B 28% 35% 15% 12% 5% 5% 0% 0% 0% 0% Year Property Asset Name Purchased Class Bandsaw 2017 A 3-D Printer 2019 C Polisher 2018 C Boxer 2015 A Truck 2018 A Storage 2019 A Router 2017 B Firewall 2018 B Stamping 2020 C Press 2018 C 10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 9 Current Cost Age $2,200 $95,000 $47,000 $22,000 $40,000 $5,000 $8,600 $12,500 $37,000 $84,000 5 10 6 7 0% 11 12 8 9 0% 0% 0% 10 13 14 15 16 17 Total 18 19

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