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Suppose a 7-year MACRS asset was purchased for $80,500. If this asset was sold at the end of year 4 for $35,000, how much would the gains tax on this asset be equal to if the both capital gains and ordinary income are taxed at a rate of 25%? Note that positive values below indicate a tax paid to the IRS while negative amounts indicate a tax credit. Selected Answer: $3,361.53 Answers: $3,361.53 -$388.47 -$2,543.86 $1,206.14 Suppose a 7-year MACRS asset was purchased for $80,500. If this asset was sold at the end of year 4 for $35,000, how much would the gains tax on this asset be equal to if the both capital gains and ordinary income are taxed at a rate of 25%? Note that positive values below indicate a tax paid to the IRS while negative amounts indicate a tax credit. Selected Answer: $3,361.53 Answers: $3,361.53 -$388.47 -$2,543.86 $1,206.14