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12. A firm buys a fixed asset for $20 million with an 8 year useful life. The firm uses straight-line depreciation. 2 years after purchase,

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12. A firm buys a fixed asset for $20 million with an 8 year useful life. The firm uses straight-line depreciation. 2 years after purchase, the firm sells the asset for $16 million. The firm has a 20% tax rate. How much money does the firm realize from the sale, net of any tax effects? (a) $16 million $15.8 million $10.8 million $17 million (d)

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