principles finance managerial
cushing corporation is considering the purchase of a new grading machine to replace the existing one. the existing machine was purchased 3 years ago at an installed cost of $20,000; it was been depreciated under macrs using a 5-year recovery period. the existing machine is expected to have a usable life of at least 5 more years. the new machine costs a $35,000 and requires $5,000 in installation costs; it will be depreciated using a 5-year recovery period under macrs. the existing machine can currently be sold for $25,000 without incurring any removal or cleanup costs. the firm’s subject to a 40% tax rate. calculate the initial investment associated with the proposed purchase of a new grading machine.
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