Assume Book value and taxes on sale of assets Tray Industries purchased a new machine 3 year(s) ago for $70,000 is being deprecated under MACRS with a 5-year recovery period using the schedule 40% ordinary and capital gains tax rates a. What is the book value of the machine? 6. Calculate the firm's taxability told the machine for each of the following amounta: 801.200,883,200 $22,040, and $15,400. a. The remaining book value in $. (Round Data Table (Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.) Rounded Depreciation Percentages by Recovery Year Using MACRS for First Four Property Classes Percentage by recovery year Recovery year 3 years 5 years 7 years 10 years 1 33% 20% 14% 10% 2 45% 32% 25% 18% 15% 19% 18% 14% 4 7% 12% 12% 12% 5 12% 9% 946 5% 9% 8% 7 9% 7% 8 6% 9 6% 10 6% 11 Totals 100% 100% 100% 100% Enter your answer in the answer box and 4 parts Check Awe