Dogit, Inc. sold equipment on December 31, 2022 for $370,500. The equipment originally cost $650,325 and had accumulated depreciation of $248,820 at the end of 2021. Deprecation on the machine during 2022 was $62,205. The salvage value is estimated to be $28,275. 

What effect will selling the equipment have on Dogit's 2022 pre-tax income?

Answer rating: 100% (QA)

To determine the effect on pretax income we need to calculate t... View the full answer