Book value and taxes on sale of assets Troy Industries purchased a new machine 4 year(s) ago for $76,000. It is being depreciated under MACRS with a 5-year recovery period using the schedule ordinary and capital gains tax rates. a. What is the book value of the machine? b. Calculate the firm's tax liability if it sold the machine for each of the following amounts: $91,200; $53,200; $12,920; and $9,000. Assume 21% Data table a. The remaining book value is $ (Round to the nearest dollar.) (Click on the icon here in order to copy the contents of the data table below into a spreadsheet.) Rounded Depreciation Percentages by Recovery Year Using MACRS for First Four Property Classes Recovery year 3 years Percentage by recovery year* 5 years 7 years 10 years 1 33% 20% 14% 10% 23 2 45% 32% 25% 18% 15% 19% 18% 14% 4 7% 12% 12% 12% 5 12% 9% 9% 6 5% 9% 8% 7 9% 7% 8 4% 6% 9 6% 6% 10 4% 11 Totals 100% 100% 100% 100% Get more help *These percentages have been rounded to the nearest whole percent to simplify calculations while retaining realism. To calculate the actual depreciation for tax purposes, be sure to apply the actual unrounded percentages or directly apply double-declining balance (200%) depreciation using the half-year convention. Print Done - ck answe