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please answer both the parts with steps. 1. PManufacturing is considering the sale of two nondepreciable assets, X and Y. Asset X was purchased for

image text in transcribed please answer both the parts with steps.

1. PManufacturing is considering the sale of two nondepreciable assets, X and Y. Asset X was purchased for $2,000 and will be sold today for $3,250. Asset Y was purchased for $30,000 and will be sold today for $45,000. The firm is subject to a 30 % tax rate on capital gains. a. Calculate the amount of capital gain, if any, realized on each of the assets. b. Calculate the tax on the sale of each asset

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