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Johnson Corp purchased a machine for $5,000 six years ago. They have been depreciating it on a straight line basis down to a salvage value

  1. Johnson Corp purchased a machine for $5,000 six years ago. They have been depreciating it on a straight line basis down to a salvage value of zero over its expected 20 year life. They just sold the machine for $3,800. Assuming a 40% tax rate, calculate the after tax cash that Johnson Corp will receive from the sale.

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