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Question 8 (4 points) New-Lamps-for-Old, Inc. sells some old lamps for $60,000. The lamps were purchased several years ago for $100,000 & have a book
Question 8 (4 points) New-Lamps-for-Old, Inc. sells some old lamps for $60,000. The lamps were purchased several years ago for $100,000 & have a book value of $30,000. The corporate tax rate is 21%. How much - if any - will New-Lamps pay in capital gains tax on the sale? a. New-Lamps will receive a tax credit on the sale. O b. $0 O c. $6300 d. $8400 e. $10500 f. $12600 g. $14700 Oh. $16800 O i. $25200 O j. $31500
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