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A firm has just realised an after-tax salvage of $70, 500 on the sale of some equipment it purchased exactly 5 years ago. This equipment

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A firm has just realised an after-tax salvage of $70, 500 on the sale of some equipment it purchased exactly 5 years ago. This equipment cost the firm $228,500 when it was purchased. It had an original useful life for tax purposes of 12 years. (a) If the firm's marginal tax rate is 35.0% and you assume that the machine has been undergoing straight line depreciation over its tax life, at what market price did the firm just salvage the equipment? The equipment was sold in the salvage market for a price of $ (Round your answer to the nearest dollar)

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