Tax calculations Determine the total taxes payable, with a 20% tax rate, for following situations. the asset was purchased 5 years ago for $460, 200 and depreciated under MACRS using a 7-year recovery period. (See Table 4.2 on page 166 for the applicable depreciation percentages. Round answers to the nearer the asset is sold for $725,000. the asset is sold for $650,000. the asset is sold for $ 101, 244. the asset is sold for $92.244. Tax calculations Determine the total taxes payable, with a 20% tax rate, for following situations. the asset was purchased 5 years ago for $460, 200 and depreciated under MACRS using a 7-year recovery period. (See Table 4.2 on page 166 for the applicable depreciation percentages. Round answers to the nearer the asset is sold for $725,000. the asset is sold for $650,000. the asset is sold for $ 101, 244. the asset is sold for $92.244