a. The tax due on the sale is $26,425. b. The book value today is $186,120 c. Th

Question

a.The tax due on the sale is $26,425.

b.The book value today is $186,120

c.The accumulated depreciation to date is $38,880

d.The taxable amount on the sale is $38,880

e.The aftertax salvage value is $70,158

You own some equipment that you purchased 4 years ago at a cost of $225,000. The equipment is 5-year property for MACRS. You are considering selling the equipment today for $87,000. Which one of the following statements is correct if your tax rate is 35 percent? a.The tax due on the sale is $26,425. b.The book value today is $186,120 c.The accumulated depreciation to date is $38,880 d.The taxable amount on the sale is $38,880 e.The aftertax salvage value is $70,158

Explanation / Answer

b.The book value today is $186,120

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.