Book value and taxes on sale of assets Troy Industries purchased a new machine 2 year(s) ago for $80,000. It is being depreciated under MACRS with a 5-year recovery period using the schedule. Assume 21% 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: $96,000; $56,000; $38,400; and $26,900. a. The remaining book value is $ (Round to the nearest dollar.) ...

Book value and taxes on sale of assets. Troy Industries purchased a now machine 2 yoar(s) ago for 580,000 . It is being depreciated under MACRS with a 5 year recovery period using the schedile Assume 21% erdinary and capitat gains tar mitos. a. What is the book . the machine? b. Calculate the firm's tax liability if it sold the machine for each of the following amounts: 396,000;556,000;538,400, and 526,900 a. The remaining book value is s (Round to the nearest dollar.)