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You have R&D equipment that is a 5-year MACRS asset that you purchased for $53,500. In February of year 5 of ownership, you sold it

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You have R&D equipment that is a 5-year MACRS asset that you purchased for $53,500. In February of year 5 of ownership, you sold it for $5,310. Calculate the gains tax owed or amount of tax credit because of this sale

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