Congratulations! You were selected as the new assistant to the Chief Financial Officer of Pearland Medical Center, a 1,000-bed academic medical center in the suburbs of a city with a population of over 4 million.
Pearland Medical Center purchased a Lucas chest compression system, an automatic CPR support machine for its emergency department, for $10,000 and placed it in service in 2013. Pearland Medical Center paid $300 to ship the machine. No installation fees were required. Assume that the chest compression system falls into the Modified Accelerated Cost Recovery System (MACRS) 5-year class.
1. Calculate the Lucas chest compression system depreciation expense for tax purposes according to MACRS and its tax book value for each year.
2. Discuss the relationship between depreciation and taxes for a taxable organization.
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