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Problem:

Edward's Manufactured Homes purchased some machinery 2 years ago for $44,000. The assets are classified as 5-year property for MACRS. The company is replacing this machinery today with newer machines that utilize the latest in technology. The old machines are being sold for $13,000 to a foreign firm for use in its production facility in South America.

Requirement:

Question: What is the aftertax salvage value from this sale if the tax rate is 34 percent?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91172503

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