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P11-9 Tax calculations Determine the total taxes payable, with a 20% tax rate, for each of the following situations. The asset was purchased 5 years ago for $460,200 and is being depreciated under MACRS using a 7-year recovery period. (See Table 4.2 on page 166 for the applicable depreciation percentages. Round answers to the nearest whole dollar.) a. The asset is sold for $725,000. b. The asset is sold for $650,000. c. The asset is sold for $101,244. d. The asset is sold for $92,244