Question: PLEASE ANSWER BOTH QUESTIONS ANSWER BOTH PLEASE 5. (6pts)A company has just acquired a firm with revenues of 1.2 million, cost of goods sold of

PLEASE ANSWER BOTH QUESTIONS

PLEASE ANSWER BOTH QUESTIONS ANSWER BOTH PLEASE 5. (6pts)A company has just

ANSWER BOTH PLEASE

5. (6pts)A company has just acquired a firm with revenues of 1.2 million, cost of goods sold of 630,000, salaries and wages of 240,000, interest expense of 12,000 and tax depreciation of 82,000. What is the income tax on the revenue generated from this new acquisition? 6. (5pts) An asset with an adjusted book value from the application of tax depreciation of 81,000 has been sold for 65,000. The firm has a tax rate of 21%. What are the net proceeds from the sale of this asset

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