13 years ago, a firm purchased equipment for $100 million The equipment is being depreciated straightline over 20 years from the time of purchase The firm's tax rate is 37 If the firm sells the equipment today (in the 13th year after the equipment was purchased) for a price of $42 million, what is the amount of the tax the firm will have to pay as a result of the sale of the equipment Round all intermediate calculations to 6 decimal points Your final answer should be within $100 of the correct answer choice a $8,510,000 b $5,910 000 c $15,540,000 d $2,590,000

Question

13 years ago, a firm purchased equipment for $100 million  The equipment is being depreciated straightline over 20 years from the time of purchase  The firm's tax rate is 37   If the firm sells the equipment today (in the 13th year after the equipment was purchased) for a price of $42 million, what is the amount of the tax the firm will have to pay as a result of the sale of the equipment  Round all intermediate calculations to 6 decimal points  Your final answer should be within $100 of the correct answer choice  a  $8,510,000 b  $5,910 000 c  $15,540,000 d  $2,590,000

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13 years ago, a firm purchased equipment for $100 million. The equipment is being depreciated straightline over 20 years from the time of purchase. The

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