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Tax Effect of the Sale Assignment | Homework For You

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June 9th, 2020

A corporation bought a machine 5 years ago for $144,000 and sold it today for $55,000. The machine was being depreciated to a zero salvage value using straight-line method over 8 years. If the firm’s tax rate is 34%, what is the tax effect of the sale?Get Finance homework help todayHomework For You

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