A firm with a 30% marginal tax rate purchases manufacturing equipment for $300,000. The useful life of the equipment is 15 years, with an expected salvage value of $15,000. Calculate the after-tax gain/loss if the firm sells the equipment after 8 years for $80,000 under the following depreciation accounting methods: a) Straight-line depreciation method b) Modified Accelerated Cost Recovery System (MACRS) 10-year schedule (provided below) 10-year MACRS schedule 1 10.00% 2 18.00% 3 14.40% 4 11.52% 5 9.22% 6 7.37% 7 6.55% 8 6.55% 9 6.56% 10 6.55% 11 3.28%