Question: A project you are evaluating involves the purchase of a piece of equipment at an up-front cost of EUR 1,346,143. The project will last 6

A project you are evaluating involves the purchase of a piece of equipment at an up-front cost of EUR 1,346,143. The project will last 6 years. The depreciation rate allowed for tax purposes is 22% per year. What will the non-depreciated balance (tax basis) be halfway through the project's life? If the result is less than zero (0) then report 0.

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