3. A manufacturing company purchased a new machine costing $500,000 now (year 0). The machine to be used for welding is depreciated at a 30% declining balance rate for tax purposes. If the machine is to be sold after seven years,compute the amounts of gains (losses) and the disposal tax effect for the following three salvage values with a corporate tax rate of 35%. a) $ 30,000 b) $175,000 c) $525,000