Answered step by step
Verified Expert Solution
Question
1 Approved Answer
MACRS Fixed Annual Expense Percentages by Recovery Class Click on this icon to download the data from this table Year 1 3-Year 33.33% 44.45% 14.81%
MACRS Fixed Annual Expense Percentages by Recovery Class Click on this icon to download the data from this table Year 1 3-Year 33.33% 44.45% 14.81% 7.41% 5-Year 20.00% 32.00% 19.20% 11.52% 11.52% 5.76% 7-Year 14.29% 24.49% 17.49% 12.49% 8.93% 8.93% 8.93% 4.45% 10-Year 10.00% 18.00% 14.40% 11.52% 9.22% 7.37% 6.55% 6.55% 6.55% 6.55% 3.28% Cost recovery. Brock Florist Company bought a new delivery truck for $29,000. It was classified as a light-duty truck. The company sold its delivery truck after three years of service. If a five-year life and MACRS, was used for the depreciation schedule, what is the after-tax cash flow from the sale of the truck (use a 40% tax rate) if a. the sales price was $18,000? b. the sales price was $10,000? c. the sales price was $5,000? a. If the sales price was $18,000, what would be the after-tax cash flow? $ (Round to the nearest cent.) b. If the sales price was $10,000, what would be the after-tax cash flow? $ (Round to the nearest cent.) c. If the sales price was $5,000, what would be the after-tax cash flow? $ (Round to the nearest cent.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started