Talias Tutus bought a new sewing machine for $50,000 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.

YEAR 1= _________________

YEAR 2=_______________

YEAR 3 =_________________

YEAR 4= ________________

YEAR 5=_____________________

b. If the sewing machine is sold after 3 years for $25,000, what will be the after-tax proceeds on the sale if the firms tax bracket is 35%?

AFTER TAX PROCEEDS? _____________________________

THESE TWO QUESTIONS NEED TO BE ANSWERED TONIGHT i WILL GIVE YOU A 5 STAR AND BIG THUMBS UP. I WANT TO MAKE SURE I DID THE WORK CORRECTLY FROM A PRO LIKE YOU. THANK YOU AND YOU ROCK!