Check my work 2 Telstar Communications is going to purchase an asset for $420,000 that will produce $200,000 per year for the next four years in earnings before depreciation and taxes. The asset will be depreciated using the three-year MACRS depreciation schedule in Table 1212. (This represents four years of depreciation based on the half-year convention.) The firm is in a 25 percent tax bracket. 5 points Skipped Fill in the schedule below for the next four years. Year 1 Year 2 eBook Earnings before depreciation and taxes Depreciation Earnings before taxes Print Taxes Earnings after taxes Depreciation Cash flow References Check my work 2 to purchase an asset for $420,000 that will ne next four years in earnings before t will be depreciated using the three-year Table 12-12. (This represents four years of ear convention.) The firm is in a 25 percent tax 5 points Skipped next four years. Year 1 Year 2 Year 3 Year 4 eBook 3 $ 0 $ 0 $ 0 $ 0 Print $ 0 $ 0 $ 0 $ 0 References $ 0 $ 0 $ 0 $ 0 Check my work 3 An asset was purchased three years ago for $220,000. It falls into the five-year category for MACRS depreciation. The firm is in a 25 percent tax bracket. Use Table 12-12. 5 points a. Compute the tax loss on the sale and the related tax benefit if the asset is sold now for $25,060. (Input all amounts as positive values. Do not round intermediate calculations and round your answers to whole dollars.) eBook Tax loss on the sale 101 Tax benefit Hint Print References b. Compute the gain and related tax on the sale if the asset is sold now for $76,060. (Input all amounts as positive values. Do not round intermediate calculations and round your answers to whole dollars.) Taxable gain Tax obligation