An asset used in a 4-year project falls in the 5-year MACRS class for tax purposes. The asset has an acquisition cost of $350,000 and will be sold for $50,000 at the end of the project. Assume tax rate is 35%.(A)Find the assets book value at the time of liquidation.(B)Find the amount of capital gain realized from the assets liquidation.(C)What is the tax implication of the assets liquidation?(D)What is the net salvage value of the asset? [Depreciation schedule for assets with 5-year tax life is: 20%, 32%, 19.2%, 11.52%, 11.52%, and 5.76% in year 1 through year 6, respectively]