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Question 4.7 (10pts) A local coffee company buys a professional coffee machine at $56,000. The machine is classified as a five-year MARCS recovery property.
Question 4.7 (10pts) A local coffee company buys a professional coffee machine at $56,000. The machine is classified as a five-year MARCS recovery property. At the end of four years, coffee company sells the machine at a salvage value $30,000. Knowing that the ordinary incomes and capital gains are taxed at 22%, calculate the amount of gain taxes at the end of the fourth. A) $4,216 B) $3,591 C) $2,881 D) Answers A, B and C are not correct
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