QUESTION 24 5 points Save Ans MACRS RATE Recovery year 3 years 5 years 7 years 10 years 1/33% 20% 14% 10% 2 45 32 25 18 3115 19 18 14 47 12 12 12 5 12 19 9 6 5 19 8 7 9 2 8 14 6 9 6 10 6 11 4 A mixer was purchased two years ago for $120,000 and can be sold for $125,000 today. The mixer has been depreciated using the MACRS 5. year recovery period and the firm pays 40 percent taxes on both ordinary income and capital gain (a) Compute recaptured depreciation and capital gain (loss), if any. (b) Find the firm's tax liability