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 $206,000 and is being depreciated under MACRS using a 5-year recovery period . a. The asset is sold for $226,600. b. The asset is sold for $154,500. c. The asset is sold for $98,880. d. The asset is sold for $79,100. Calculate the firm's tax liability for each case: (Round to the nearest dollar.) Sale Capital Tax on Depreciation Total Tax on Recovery Price Gain Capital Gain Recovery Tax $ 226,600 $ $ $ (Round to the nearest dollar.) Sale Capital Tax on Depreciation Tax on Total Price Gain Capital Gain Recovery Recovery Tax 154,500 $ $ $ $ $ (Round to the nearest dollar.) Sale Capital Tax on Depreciation Tax on Total Price Gain Recovery Recovery Tax 98,880 $ Capital Gain $ $ $ $ (Round to the nearest dollar.) Capital Tax on Tax on Sale Price Depreciation Recovery Gain Recovery Total Tax $ D $ Capital Gain $ 79,100 $ $ $ 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 33% 20% 14% 45% 32% 25% 15% 19% 18% 12% 12% 12% 9% 5% 9% 10 years 10% 18% 14% 12% 9% 7% O voo AWN- 9% 8% 7% 4% 6% 6% 11 6% 4% 100% Totals 100% 100% 100%