Genetic insights co purchases an asset for 12752 this, Ask an Expert

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Genetic insights co. Purchases an asset for $12752. This qualifies as a seven-year recovery asset under MACRS. The seven-year fixed depreciation percentages for years 1, 2, 3, 4, 5, and 6 are 14.29%, 24.49%, 17.49%, 12.49%, 8.93%, and 8.93%, respectively. Genetic insights has a tax rate of 30%. The asset is sold at the end of six years for $4367.

Calculate tax paid on gain on disposal.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91535770

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