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Please do all (Capital gains tax) The J. Harris Corporation is considering selling one of its old assembly machines. The machine, purchased for $50,0005 years
Please do all
(Capital gains tax) The J. Harris Corporation is considering selling one of its old assembly machines. The machine, purchased for $50,0005 years ago, had an expected lite of 10 years and an expected salvage value of zero. Assume Harris uses simplified straight-line depreciation (depreciation of $5,000 per year) and could sell this old machine for $45,000. Also assume Harris has a 33 percent marginal tax rate. a. What would be the taxes associated with this sale? b. If the old machine were sold for $35,000, what would be the taxes associated with this sale? c. If the old machine were sold for $25,000, what would be the taxes associated with this sale? d. If the old machine were sold for $22,000, what would be the taxes associated with this sale? a. If the old machine were sold for $45,000, there would be $ (Round to the nearest dollar and select from the drop-down menu) b. If the old machine were sold for $35,000, there would be $ (Round to the nearest dollar and select from the drop-down menu) c. If the old machine were sold for $25,000, there would be $ (Round to the nearest dollar and select from the drop-down menu.) d. If the old machine were sold for $22,000, there would be $ (Round to the nearest dollar and select from the drop-down menu.) Step by Step Solution
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