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A corporation is selling an existingasset for $ 7 6 0 3 1 . The asset, whenpurchased, cost $ 4 2 1 4 7 ,
A corporation is selling an existingasset for $ The asset, whenpurchased, cost $ was beingdepreciated under MACRS using afiveyear recovery period, and hasbeen depreciated for four full years.If the assumed tax rate is percenton ordinary income and capitalgains, the tax effect of thistransaction is:
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