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Three years ago, your firm bought a new machine for $1,000. The machine was depreciated on a straight line basis over a 6 year life

Three years ago, your firm bought a new machine for $1,000. The machine was depreciated on a straight line basis over a 6 year life to a salvage value of zero. Today, your company will sell the machine for $3,000. The tax rate is 24%. What are the after tax proceeds from the sale?

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