The Jones Company has just completed the third year of a 5-year diminishing value recovery period for a piece of equipment it originally purchased for $301 000. The depreciation rate is 40%. a. What is the book value of the equipment? b. If Jones sells the equipment today for $78 000 and its tax rate is 30%, what is the after-tax cash flow from selling it? a. The book value of the equipment after the third year is $ (Round to the nearest dollar.) b. If Jones Company sells the equipment today for $78 000 and its tax rate is 30%, the total after-tax proceeds from the sale will be $ (Round to the nearest dollar.)