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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 $

76031 .

The asset, whenpurchased, cost $

42147,

was beingdepreciated under MACRS using afive

-

year recovery period, and hasbeen depreciated for four full years.If the assumed tax rate is

34

percenton ordinary income and capitalgains, the tax effect of thistransaction is:

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