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XY Manufacturing is considering the sale of two nondepreciable assets, X . Asset X was purchased for $2,000 and will be sold today for $2,250.
XY Manufacturing is considering the sale of two nondepreciable assets, X . Asset X was purchased for $2,000 and will be sold today for $2,250. The firm is subject to a 40% tax rate on capital gains.
Calculate the tax on the sale of each asset.
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