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4. A company buys some office furniture and fixtures. It spends 40,000. It will estimate its taxes as an accounting procedure. It will use ordinary

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4. A company buys some office furniture and fixtures. It spends 40,000. It will estimate its taxes as an accounting procedure. It will use ordinary (not double) declining balance depreciation to do the depreciation calculation since this is an internal calculation only. The office furniture is dark brown, in a kind of Victorian style. It will be used on the 3rd floor. The salvage value of the furniture will be 2000 after ten years. Mr. Ferdinand will be in charge of the furniture. It will generate AFTER TAX 12,000 in revenue each year for 20 years. The income tax rate will be assumed to be Q.4 Mr. Ferdinand's dog name is Fido. purposes Perform the tax effects analysis as discussed in class (and chapter 10 in the text) where you show the BEFORE tax cash flow, depreciation, taxable income, taxes and after-tax cash flow for each year in a table. In the interests of time do only the first five years

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