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You own some equipment that you purchased four years ago at a cost of $287,000. The equipment is five-year property for MACRS. The MACRS rates
You own some equipment that you purchased four years ago at a cost of $287,000. The equipment is five-year property for MACRS. The MACRS rates are 2,32,192,1152, 1152, .0576, for Years 1 to 6. respectively. You are considering selling the equipment today for $105,000. Which one of the following statements is correct if your tax rate is 24 percent and you claim no bonus depreciation? Multiple Choice The aftertax salvage value $91.702.46 The accumulated depreciation to date is $270.468.80. The tax due on the sale is $13,357.76. The book value today is $49.406.40. O O The taxable amount on the sale is $54,593.60
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