An asset was purchased three years ago for $145,000. It falls into the five-year category for MACRS depreciation. The firm is in a 25 percent tax bracket. Use Table 12-12. a. Compute the tax loss on the sale and the related tax benefit if the asset is sold now for $17,560. (Input all amounts as positive values. Do not round intermediate calculations and round your answers to whole dollars.) Tax loss on the sale Tax benefit b. Compute the gain and related tax on the sale if the asset is sold now for $61,060. (Input all amounts as positive values. Do not round intermediate calculations and round your answers to whole dollars.) Taxable gain Tax obligation Table 12-12 Depreciation percentages (expressed in decimals) Depreciation 3-Year 5-Year 7-Year 10-Year Year MACRS MACRS MACRS MACRS 15-Year MACRS MACRS 20-Year 1 0.333 0.200 0.143 0.100 0.050 0.038 2 0.445 0.320 0.245 0.180 0.095 0.072 3 0.148 wwwwwww 0.192 0.175 0.144 0.086 0.067 4 0.074 0.115 0.125 0.115 0.077 0.062 5 0.115 0.089 0.092 0.069 0.057 7 8 67 0.058 0.089 0.074 0.062 0.053 0.089 0.066 0.059 0.045 0.045 0.066 0.059 0.045 9 0.065 0.059 0.045 10 0.065 0.059 0.045 11 0.033 0.059 0.045 12 0.059 0.045 13 0.059 0.045 14 0.059 0.045 15. 0.059 0.045 16 0.030 0.045 17 0.045 18 0.05 19 0.045 20 0.045 21 0.017 1.000 1.000 1.000 1.000 1.000 1.000