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Question 5.7 (10pts) An electrical appliance company purchased an industrial robot costing $350,000 in year 0. The industrial robot, to be used for welding operations, is classified as a seven-year MACRS recovery property. If the robot is to be sold after 3 years at a salvage value of $250,000, compute the amount of gain taxes, assuming that both capital gains and ordinary incomes are taxes at 21%. A) $19,906 B) $13,931 C) $20,358 D) Answers A, B and C are not correct Question 5.8(10pts) A company has a gross income of $28,000,000 in tax-year 1, $3,000,000 in marketing cost, $2,000,000 in wages, $2,000,000 in depreciation expenses, a loan principal payment of $100,000, and a loan interest payment of $160,000. The corporate tax rate is 21%- (a) What is the taxable income of this company in tax-year l? (b) What is the amount of taxes to be paid for this company? (e) Determine the net income of the company in tax-year 1. A) (a) $20,840,000 (b) $4,376,400 (c) $16,463,600 B) (a) $20,900,000 (b) $4,389,000 (c) $16,511,000 C) (a) $20,740,000 (b) 84,355,400 (c) $16,384,600 D) Answers A, B and C are not correct