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Talias Tutus bought a new sewing machine for $40,000 that will be depreciated over 5 years using double-declining-balance depreciation with a switch to straight-line. Required:
Talias Tutus bought a new sewing machine for $40,000 that will be depreciated over 5 years using double-declining-balance depreciation with a switch to straight-line. Required: a. Find the depreciation charge each year. b. If the sewing machine is sold after 3 years for $22,000, what will be the after-tax proceeds on the sale if the firms tax bracket is 35%
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