3 A company is thinking to sell an asset since it will be replaced by a higher capacity one. The estimated sale price of the asset is $300,000 while the asset has depreciated to the salvage value of $500,000. If the company has the marginal tax rate of 35%, how much is the net proceed from the sale of this old asset? Round to the nearest penny. Do not include a dollar sign in your answer. 4 A firm has a machine it can sell for $40,000. The book value of the machine is currently $20,000. If the firm sells the machine, what are the tax implications from the sale? Assume that the tax rate is 40%.Round to the nearest penny. If tax liabilities, type a negative sign in front. Do not include a dollar sign in your answer. (i.e. If your answer is tax liabilites of $8,765,43, type -8765.43; if tax shield of $8,765.43, type 8765.43). A firm is planning to purchase a new machine to replace old. The cost of machine is $400,000, shipping is $50,000 and installation is $30,000. Also the company has to train I employees in order to operate the machine which cost the firm another $100,000. The company spent $50,000 for the marketing and another $20,000 for consulting previously. The company can sell the old machine for $100,000 while it has the book value of $0. The new project requires the company to invest in working capital that is $70,000. If the company's marginal tax rate is 40%, what is the initial outlay of replacing the machine? Round to the nearest penny. Do not include a dollar sign in your answer. Type the absolute value of the answer. (i.e. If your answer is -$20,000 since it is cost to replace, type 20000 as your answer.)