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11-8-Book value and taxes on sales assets Troy Industries purchased a new machine 3 years ago for $80,000. It is being depreciated under MACRS with a five year recovery period using the percentages given in Table 4.2. Assume a 40% tax rate.

a). What is the book value of the machine?

b). Calculate the firms tax liability if it sold the machine for each of the following amounts: $100,000, $56, 000, $23,300, and $15,000.

Table 4.2-Percentage by recovery year

Recovery year 3 years 5 years

1. 33% 20%
2. 45 32
3. 15 19

4 7 12

5 12

6 5 .

Totals 100% 100%