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PLEASE ANSWER ALL PARTS. NEED THE CALCULATIONS FOR IT BEING SOLD AT $98,400; $57,400; $39,360; and $27,600. Will give thumbs up! Aasume 21% ordinary and
PLEASE ANSWER ALL PARTS. NEED THE CALCULATIONS FOR IT BEING SOLD AT $98,400; $57,400; $39,360; and $27,600.
Will give thumbs up!
Aasume 21% ordinary and capital gains tax rates. a. What is the book velue of the machine? b. Calculate the firm's tax liabiity if it sold the machine for each of the following amounts: $98,400;$57,400;$39,360; and $27,600. a. The remaining book value is $39980. (Round lo the nearest dollar.) b. Calculate the firm's tax liabiity for each case: (Round to the nearest dolar.) Data table Rounded Depreciation Percentages by Recovery Year Using MACRS for Firet Faur Pronnortu rlacese "These percenlages have been roundod to the rearest whole percent to sirnplly calculations while retaining realism. To calculate the actual depreciation for tax purposes, be sure to apply the actual urirounded percentages or directly apply double-decliring balance (200%) depreciation using the half-year comvenlionStep by Step Solution
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