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Please solve correctly asap ....don't copy anywhere I'll downvote Book value and taxes on sale of assets Troy Industries purchased a new machine 5 year(s)

Please solve correctly asap ....don't copy anywhere I'll downvote

image text in transcribed Book value and taxes on sale of assets Troy Industries purchased a new machine 5 year(s) ago for $76,000. It is being depreciated under MACRS with a 5 -year recovery period using the schedule Assume 21% ordinary and capital gains tax rates. a. What is the book value of the machine? b. Calculate the firm's tax liability if it sold the machine for each of the following amounts: $91,200;$53,200; $3,800; and $2,700. a. The remaining book value is $ (Round to the nearest dollar.) b. Calculate the firm's tax liability for each case: (Round to the nearest dollar.) Book value and taxes on sale of assets Troy Industries purchased a new machine 5 year(s) ago for $76,000. It is being depreciated under MACRS with a 5 -year recovery period using the schedule Assume 21% ordinary and capital gains tax rates. a. What is the book value of the machine? b. Calculate the firm's tax liability if it sold the machine for each of the following amounts: $91,200;$53,200; $3,800; and $2,700. a. The remaining book value is $ (Round to the nearest dollar.) b. Calculate the firm's tax liability for each case: (Round to the nearest dollar.)

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