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A new machine is purchased for $35,000 and will produce a net income of $12,000 per year. The machine is depreciated using MACRS as a 3-year property. It has an estimated life of 5 years and a salvage value of $8000. If the tax rate is 35%, use the table below to determine --- Year BTCF Deprec. Book Value Taxable Income Tax ATCF 0 -$35,000 1 12,000 2 12,000 3 12,000 4 12,000 Incorrect 5 12,000 5 8000 __?__ The tax that must be paid on the salvage value? Your Answer: Correct Answer: $2800 Comment:

Question 23: Score 0/4 A new machine is purchased for $35,000 and will produce a net income of $12,000 per year. The machine is depreciated using MACRS as a 3-year property. It has an estimated life of 5 years and a salvage value of $8000. If the tax rate is 35%, use the table below to determine- Year BTCF Deprec. Book Value Taxable Incomex ATCF 0 -$35,000 12,000 12,000 12,000 12,000 Incorrect 3 4 12,000 8000 The tax that must be paid on the salvage value? Your Answer: Correct Answer: $2800 Comment