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Talia's Tutus bought a new sewing machine for $85,000 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 $85,000 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 $35,000, what will be the after-tax proceeds on the sale if the firm's tax bracket is 35%? Complete this question by entering your answers in the tabs below. Required A Required B If the sewing machine is sold after 3 years for $35,000, what will be the after-tax proceeds on the sale if the firm's tax bracket is 35%? ............................. After-tax proceeds
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