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12-23 A firm has invested $60,000 in machinery with a 5-year useful life. The machinery will have no salvage value, as the cost to remove
12-23 A firm has invested $60,000 in machinery with a 5-year useful life. The machinery will have no salvage value, as the cost to remove it will equal its scrap value. The uniform annual benefits from the machinery are $15,000. For a combined 45% income tax rate, and 100% bonus depreciation, compute the after-tax rate of return
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