Homework: HW #10: Taxes & Depreciation Question 8, Problem 9-41 (algorithmic) HW Score: 61.25%, 49 of 80 points Points: 0 of 10 Save Company J bought a piece of equipment for $240,000. This equipment has a useful life of 10 years and a salvage value of $20,000. The company has been using the seven-year MACRS property class to depreciate the asset for tax purposes. At the end of year 4, the company sold the equipment for $150,000. The tax rate is 35%. What are the net proceeds (after tax) from the sale of the equipment? Click the icon to view the MACRS depreciation schedules. The net proceeds (after tax) from the sale of the equipment are $ (Round to the nearest dollar.) More Info Class 5 7 10 15 20 Depreciation Year n 200% 200% 200% 200% 150% 150% rate 1 33.33 20.00 14.29 10.00 5.00 3.750 2 44.45 32.00 24.49 18.00 9.50 7.219 3 14.81 19.20 17.49 14.40 8.55 6.677 4 7.41 11.52 12.49 11.52 7.70 6.177 5 11.52 8.93" 9.22 6.93 5.713 6 5.76 8.92 7.37 6.23 5.285 7 8.93 6.55 5.90 4.888 8 4.46 6.55 5.90 4.522 9 6.56 5.91 4.462 10 6.55 5.90 4.461 11 3.28 5.91 4.462 12 5.90 4.461 13 5.91 4.462 14 5.90 4.461 Print Done