The Harris Foundry Company purchased newcasting equipment in 2010 at a cost of $190,000. Harris also paid $25,000 to have the equipment deliveredand installed. The casting machine has an estimateduseful life of 10 years, but it will be depreciated withMACRS over its seven-year class life.(a) What is the cost basis of the casting equipment?(b) What will be the depreciation allowance in eachyear of the seven-year class life of the castingequipment?

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