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The Jones Company has just completed the third year of a? five-year MACRS recovery period for a piece of equipment it originally purchased for $

The Jones Company has just completed the third year of a? five-year MACRS recovery period for a piece of equipment it originally purchased for $ 303,000.

a. What is the book value of the? equipment?

b. If Jones sells the equipment today for $185,000 and its tax rate is 35%?, what is the? after-tax cash flow from selling? it? Note?: Assume that the equipment is put into use in year 1.

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