Tax calculations for each of the following cases, determine the total taxes resulting from the transaction. Assume a 40% tax rate. The asset was purchased 2 years ago for $202,000 and is being depreciated under MACRS using a 5-year recovery period B a. The asset is sold for $222.200. b. The asset is sold for S151,500. c. The asset is sold for $96.960 i Data Table d. The asset is sold for S77,600. Calculate the firm's tax liability for each case: (Round to the nearest dollar.) (Click on the icon located on the top-right comer of the data table below in order to copy its contents into a spreadsheet.) Salo Tax on Tax on Total Capital Gain Depreciation Recovery Recovery Tax Price 222,200 $ Capital Gain $ $ $ $ S S (Round to the nearest dollar.) Sale Capital Tax on Tax on Total Gain Recovery Depreciation Recovery $ Price 151,500 $ Tax Capital Gain $ $ $ S (Round to the nearest dollar) Rounded Depreciation Percentages by Recovery Year Using MACRS for First Four Property Classes Percentage by recovery year Recovery year 3 years 5 years 7 years 10 years 1 33% 20% 14% 10% 2 45% 32% 25% 18% 3 3 15% 19% 18% 14% 4 7% 12% 12% 12% 5 12% 6 5% 9% 8% 7 9% 7% 8 4% 6% 9 6% 10 6% 11 4% Totals 100% 100% 100% 100% "These percentages have been rounded to the nearest whole percent to simplify calculations while retaining realism. To calculate the actual depreciation for tax purposes, be sure to apply the actual unrounded percentages or directly apply double-declining balance (200%) depreciation using the half-year convention Sale Tax on Total Capital Gain Depreciation Recovery Tax on Recovery Price Capital Gain Tax $ 96,960 $ $ $ $ S (Round to the nearest dollar.) Sale Tax on Tax on Total Capital Gain Depreciation Recovery Capital Gain Recovery Tax Price 77,800 $ $ $ $ $ $ S Print Done Enter any nurnbar in the edit fields and then continue to the next