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MC Qu. 68 Edward's Manufactured Homes purchased some machinery 2 years... 20 Edward's Manufactured Homes purchased some machinery 2 years ago for $52,000. The assets

MC Qu. 68 Edward's Manufactured Homes purchased some machinery 2 years... 20 Edward's Manufactured Homes purchased some machinery 2 years ago for $52,000. The assets are classified as 5-year property for MACRS. The company is replacing this machinery today with newer machines that utilize the latest in technology. The old machines are being sold for $17,000 to a foreign firm for use in its production facility in South America. What is the aftertax salvage value from this sale if the tax rate is 34 percent? 1 points References MACRS 5-year property Year Rate 1 20.00% 2 32.00% 3 19.20% 4 11.52% 5 11.52% 6 5.76% Multiple Choice $18.668.46 $24.960.00 O o $19.706.40 O $17,000.00 $16.311.84 O

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