Capital gains tax the j harris corporation is considering, Ask an Expert

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Capital gains tax?) The J. Harris Corporation is considering selling one of its old assembly machines. The? machine, purchased for ?$30000 7 years? ago, had an expected life of 10 years and an expected salvage value of zero. Assume Harris uses simplified? straight-line depreciation? (depreciation of $3000 per? year) and could sell this old machine for $ 29000. Also assume Harris has a 34 percent marginal tax rate.(round to the nearest dollar)

a. What would be the taxes associated with this? sale?

b. If the old machine were sold for ?$19000,what would be the taxes associated with this? sale?

c. If the old machine were sold for $9000, what would be the taxes associated with this? sale?

d. If the old machine were sold for $6000, what would be the taxes associated with this? sale?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92420338

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