Karipule Manufacturing is replacing an old printing press with a new one. The old press is being sold for RM350,000 and it has a net book value of RM75,000. Assume that Karipule is in the 40% income tax bracket. How much will Karipule pay in income taxes from the sale?

Select one:

A. RM87,010

B. RM110,000

C. RM140,000

D. RM240,000