5. XYZ Inc. plans to sell an asset for $21,000. The asset was acquired 5 years ago for $50,000 and was depreciated using the straight-line method with an expected life of 5 years. If XYZs tax rate is 21%, then the taxes owed on the sale will be: :$2,000 $3,00 $4,100 $4,410 None of the above

6. What is our firms initial investment, using the above data.

$1,000 $2,500 $3,400 $6,400 None of the above