You purchased an asset three years ago at a cost of $135,000 and sold it today...

   

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You purchased an asset three years ago at a cost of $135,000 and sold it today for $82,500. The equipment is 5-year property for MACRS. The MACRS table values are 2000, 3200, 1920, 1152, 1152, and .0576 for Years 1 to 6, respectively. Which one of the following statements is correct if the tax rate is 34 percent? Multiple Choice The current book value is $41,800. The taxable amount on the sale is $38,880. The aftertax salvage value is $38,880. The tax due on the sale is $14,830.80. The book value today is $37,478. You purchased an asset three years ago at a cost of $135,000 and sold it today for $82,500. The equipment is 5-year property for MACRS. The MACRS table values are 2000, 3200, 1920, 1152, 1152, and .0576 for Years 1 to 6, respectively. Which one of the following statements is correct if the tax rate is 34 percent? Multiple Choice The current book value is $41,800. The taxable amount on the sale is $38,880. The aftertax salvage value is $38,880. The tax due on the sale is $14,830.80. The book value today is $37,478. You purchased an asset three years ago at a cost of $135,000 and sold it today for $82,500. The equipment is 5-year property for MACRS. The MACRS table values are 2000, 3200, 1920, 1152, 1152, and .0576 for Years 1 to 6, respectively. Which one of the following statements is correct if the tax rate is 34 percent? Multiple Choice The current book value is $41,800. The taxable amount on the sale is $38,880. The aftertax salvage value is $38,880. The tax due on the sale is $14,830.80. The book value today is $37,478.

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