answer the questions with working out provided

After-tax cash flows; profit or loss on disposal: manufacturer In year 1, Expert Chemicals purchased a forklift truck for $300 ooo, and at the end of year 3 sold it for $55 530. At the time of sale, $235 0/0 in accumulated depreciation had been recorded. Note the accumulated depreciation is the same for accounting and tax purposes. Required: 1 What was the forklift's carrying amount at the time of sale? 2 Calculate the profit or loss on the sale. 3 Determine the after tax cash flow from the sale of the forklift. The firm's tax rate is 40 per cent