Hudson Industries, a small electronics company, acquired a machine tool two years ago with an installed cost of $$100,000.$ The depreciation rates for years one and two are $20\%$ and $32\%$ of the installed cost, respectively. The firm now decides to sell and replace the asset. What are the tax consequences of each of the following four sales prices?

$1.$Scenario $1$ The sale of the asset for more than its book value.

a$)$what if the firm sells the asset at $$110,000?$

b$)$what if the firm sells the asset at $$70,000?$

$2.$Scenario $2$ The sale of the asset for its book value. c$)$what if the firm sells the asset at $$48,000?$

$3.$Scenario $3$ The sale of the asset for less than its book value. d$)$what if the firm sells the asset at $$30,000?$