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The Autumn Leaf Glass Company with a estimated pre-tax income of $230000 this year purchased a non-depreciable asset for $46000 ten years ago. The company

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The Autumn Leaf Glass Company with a estimated pre-tax income of $230000 this year purchased a non-depreciable asset for $46000 ten years ago. The company has decided to iquidate the asset. Over the years the asset has appreciated and is expected to sell for $60000. Given the following tax table, what will be the aftertax cash flow from the sale? Tax Calculation Pre-Tax Income Base Tax Amount Total Tax Over Base (0.15 (0.25 (0.34 (0.39 (0.34 (0.34 (0.35 So 7,500 90,00013,750 SO 60,000 22,250+ 400,000 113,900+ 1,000,000 17.900+ 20,000,000 6,416,667+

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