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The Marfa Mine Co. bought a new machine 7 1/2 years ago for $660,000. The machine was being depreciated straight line over an estimated life

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The Marfa Mine Co. bought a new machine 7 1/2 years ago for $660,000. The machine was being depreciated straight line over an estimated life of 12 years. The firm's tax rate is 26%. If the machine is sold today for $225,000, calculate the taxes (or tax savings) from this sale and state if this represents taxes or tax savings

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