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You own some equipment that you purchased three years ago at a cost of $150,000. The equipment is depreciated using MACRS and has a book
You own some equipment that you purchased three years ago at a cost of $150,000. The equipment is depreciated using MACRS and has a book value of $35,000. You decide to sell the equipment today for $42,500. What is your tax liability if your marginal rate is 34%?
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