18. Edward's Manufactured Homes purchased some machinery 2 years ago for $53,000. The assets are classified as
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18.
Edward's Manufactured Homes purchased some machinery 2 years ago for $53,000. The assets are classified as 5-year property for MACRS. The company is replacing this machinery today with newer machines that utilize the latest in technology. The old machines are being sold for $18,000 to a foreign firm for use in its production facility in South America. What is the aftertax salvage value from this sale if the tax rate is 34 percent?| MACRS 5-year property |
| Year | Rate |
| 1 | 20.00% |
| 2 | 32.00% |
| 3 | 19.20% |
| 4 | 11.52% |
| 5 | 11.52% |
| 6 | 5.76% |
|
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