7-9. A global positioning system (GPS) receiver is purchased for $3,000. The IRS informs your company that the useful (class) life of the system is seven years. The expected market (salvage) value is $200 at the end of year seven. (7.3, 7.4) Use the straight-line method to calculate depreciation in year three. Use the 200% declining balance method to calculate the cumulative depreciation through year four. Use the MACRS method to calculate the cumulative depreciation through year five. What is the book value of the GPS receiver at the end of year four when straight-line depreciation is used