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An asset was purchased three years ago for $125,000 it falls into the five year category for MACRS depreciation. The film is in a 25
An asset was purchased three years ago for $125,000 it falls into the five year category for MACRS depreciation. The film is in a 25 percent tax bracket Use Table 12-12 a: Compute the tax loss on the sale and the related tax benefit of the asset is sold now for $15,560 Input all amounts as positive values. Do not round intermediate calculations and round your answers to whole dollars) Tax loss on the sale Tas benefit b. Compute the gain and related tax on the sale if the asset is sold now for $57060 (Input all amounts as positive values. Do not round intermediate calculations and round your answers to whole dollars.) Tablea Tax obligation
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