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A company bought a machine for $124,000. The machine was depriciated using a 5 year MACRS approach. After 5 years, the machine was sold at

A company bought a machine for $124,000. The machine was depriciated using a 5 year MACRS approach. After 5 years, the machine was sold at a salvage value of $96,900. Assuming a tax rate of 30%, what are the net proceeds from the sale of the machine? (Hint: You will want to take your salvage values and add/subtract gains due to the sale.)

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