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Perkins Manufacturing is considering the sale of two nondepreciable assets, X and Y. Asset X was purchased for $1,920 and will be sold today for
Perkins Manufacturing is considering the sale of two nondepreciable assets, X and Y. Asset X was purchased for
$1,920
and will be sold today for
$2,260.
Asset Y was purchased for
$30,200
and will be sold today for
$35,100.
The firm is subject to a
34 %tax rate on capital gains.
a. Calculate the amount of capital gain, if any, realized on each of the assets.The capital gain realized on asset X is
$
(Round to the nearest dollar.)
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