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A firm has a machine it can sell for $40,000. The book value of the machine is currently $20,000. If the firm sells the machine,

A firm has a machine it can sell for $40,000. The book value of the machine is currently $20,000. If the firm sells the machine, what are the net proceed from the sale? Assume that the tax rate is 40%.Round to the nearest penny. Do not include a dollar sign in your answer.

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