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The company purchased equipment at $50,250. Two years later, the equipment is sold for $30,150. The equipment is classified as five-year property for MACRS. The
The company purchased equipment at $50,250. Two years later, the equipment is sold for $30,150. The equipment is classified as five-year property for MACRS. The MACRS annual depreciation rates are 20%, 32%, 19.2%, 11.52%, 11.52%, 5.76%, for Years 1 to 6, respectively.What is the after tax salvage value of this sale at the year 2? Company's tax rate is 26% . (Round answers to two decimals)
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