A machine was sold in December 20x3 for $13,000. It was purchased in January 20x1 for $19,000,
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Question:
A machine was sold in December 20x3 for $13,000. It was purchased in January 20x1 for $19,000, and depreciation of $16,000 was recorded from the date of purchase through the date of disposal.
Assuming a 40% income tax rate, What is the after-tax cash inflow at the time of sale?
Expert Answer:
Related Book For 
Canadian Income Taxation Planning And Decision Making
ISBN: 9781259094330
17th Edition 2014-2015 Version
Authors: Joan Kitunen, William Buckwold
Posted Date:
