Question: can you solve question 5 please Question 5 (2 points) Airways Corporation owned maintenance equipment with a $1120000 initial cost basis. Accumulated book depreciation with

can you solve question 5 please

can you solve question 5 please Question 5 (2 points) Airways Corporation

Question 5 (2 points) Airways Corporation owned maintenance equipment with a $1120000 initial cost basis. Accumulated book depreciation with respect to the equipment was $883800, and accumulated tax depreciation was $909000. Airway Inc. sold the machinery for $478000 cash. Airway's marginal tax rate is 19 percent. Calculate the book gain or loss on sale. Losses should be entered as a negative number

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