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You purchased a forklift 6 years ago. It was being depreciated straight line over 10 years to a zero salvage value. The forklift initially cost
You purchased a forklift 6 years ago. It was being depreciated straight line over 10 years to a zero salvage value. The forklift initially cost $200,000. What is the book value of the asset today? If you sold the forklift today for $95,000, what (if any) tax would you have to pay on the sale? Use a marginal tax rate of 40%.
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