Question: I am having trouble trying to work this problem please help. An asset was purchased three years ago for S130,OOCL It falls into the five-year

I am having trouble trying to work this problem please help.

An asset was purchased three years ago for S130,OOCL It falls into the five-year category for MACRS depreciation The firm is in a 30 percent tax bracket Use Table 1212 a. Compute the tax loss on the sale and the related tax benefit if the asset is sold now for S16 ,060_ (Input all amounts as positive values. 00 not round intermediate calculations and round your answers to whole dollars.) b en eft b. Compute the gain and related tax on the sale if the asset is sold now for S58,06ff (Input all amounts as positive values. Do not round intermediate calculations and round your answers to whole dollars.) obligation

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