Company L sold an inventory item to Firm M for $$40,000.$ Company L$$s marginal tax rate is $21$ percent.

Required:

a$.$Compute Company L$$s after$-$tax cash flow from the sale when Firm M$$s payment consisted of $$10,000$ cash and its note for $$30,000.$ The note is payable two years from the date of sale. Company L$$s basis in the inventory item was $$15,700.$

b$.$ Compute Company L$$s after$-$tax cash flow from the sale when Firm M$$s payment consisted of $$5,000$ cash and its note for $$35,000.$ The note is payable two years from the date of sale. Company L$$s basis in the inventory item was $$47,000.$

c$.$ Compute Company L$$s after$-$tax cash flow from the sale when Firm M$$s payment consisted of $$40,000$ cash. Company L$$s basis in the inventory item was $$18,000.$

d$.$ Compute Company L$$s after$-$tax cash flow from the sale when Firm M$$s payment consisted of $$40,000$ cash. Company L$$s basis in the inventory item was $$44,000.$ Company $L$ sold an inventory item to Firm M for $$40,000.$