(Round to the nearest dollar for all)

Sale Price $58,800	Capital Gain ____$	Tax on Capital Gain ____$	Depreciation Recovery ____$	Tax on Recovery ____$	Total Tax ____
$40,320	____$	____$	____$	____$	____
$28,200	____$	____$	____$	____$	____

P11-8 (similar to) Book value and taxes on sale of assets Troy Industries purchased a new machine 2 year(s) ago for $84.000. It is being depreciated under MACRS with a 5-year recovery period using the schedule B Assume 40% 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: $100,800, $58,800, $40,320, and $28,200. a. The remaining book value is $ 40320. (Round to the nearest dollar.) b. Calculate the firm's tax liability for each case: (Round to the nearest dollar.) Sale Price 100,800 $ Tax on Capital Gain $ Gain Depreciation Recovery $ Tax on Recovery Total Tax $ C $ $ Enter any number in the edit fields and then click Check Answer. P11-8 (simila A Data Table Rs with a 5-year Book value and ta recovery period usir a. What is the book b. Calculate the firn (Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.) a. The remaining bd b. Calculate the firn Sale Rounded Depreciation Percentages by Recovery Year Using MACRS for First Four Property Classes Percentage by recovery year* Recovery year 3 years 5 years 7 years 33% 20% 14% 45% 32% 25% 15% 19% 18% 12% 12% 12% Price 100,8 10 years 10% 18% 14% 12% $ 7% 5% 9% 9% 00 Enter any number Print Done 3 parts 3 swer remaining P11-8 (similar to) Book value and taxes on sale of assets Troy Industries purchased a new machine 2 year(s) ago for $84.000. It is being depreciated under MACRS with a 5-year recovery period using the schedule B Assume 40% 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: $100,800, $58,800, $40,320, and $28,200. a. The remaining book value is $ 40320. (Round to the nearest dollar.) b. Calculate the firm's tax liability for each case: (Round to the nearest dollar.) Sale Price 100,800 $ Tax on Capital Gain $ Gain Depreciation Recovery $ Tax on Recovery Total Tax $ C $ $ Enter any number in the edit fields and then click Check Answer. P11-8 (simila A Data Table Rs with a 5-year Book value and ta recovery period usir a. What is the book b. Calculate the firn (Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.) a. The remaining bd b. Calculate the firn Sale Rounded Depreciation Percentages by Recovery Year Using MACRS for First Four Property Classes Percentage by recovery year* Recovery year 3 years 5 years 7 years 33% 20% 14% 45% 32% 25% 15% 19% 18% 12% 12% 12% Price 100,8 10 years 10% 18% 14% 12% $ 7% 5% 9% 9% 00 Enter any number Print Done 3 parts 3 swer remaining