SAMPLE QUIZ STU Ltd provides computer training services. STU charges $8,000 per day and allows customers 30 days to pay invoices. The balance sheet of STU Limited as at 31 May 2020 was as follows: The following events occurred forSTU Ltd during the month of June 2020: a) Issued shares for cash consideration of $40,000. 1. You purchased a machine for $1 million three years ago and have been applying straight-line depreciation to zero for a seven-year life. Your tax rate is 30%. If you sell the machine right now (after three years of depreciation) for $700,000, what is your incremental (after-tax salvage) cash flow from selling the machine