Question
Talia's Tutus bought a new sewing machine for $55,000 that will be depreciated over 5 years using double-declining-balance depreciation with a switch to straight-line. Required:
Talia's Tutus bought a new sewing machine for $55,000 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 $25,000, what will be the after-tax proceeds on the sale if the firm's tax bracket is 35%?
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Personal Finance
Authors: Jeff Madura, Hardeep Singh Gill
3rd Canadian Edition
978-0133035575, 133035573, 978-0133970524, 133970523, 978-0134040042
