Business, 20.03.2020 10:49 jacobbrandon2002

(Capital gains tax) The J. Harris Corporation is considering selling one of its old assembly machines. The machine, purchased for $24 comma 000 6 years ago, had an expected life of 12 years and an expected salvage value of zero. Assume Harris uses simplified straight-line depreciation (depreciation of $2 comma 000 per year) and could sell this old machine for $ 32 comma 000. Also, assume Harris has a 33 percent marginal tax rate. a. What would be the taxes associated with this sale? b. If the old machine were sold for $22 comma 000, what would be the taxes associated with this sale? c. If the old machine were sold for $12 comma 000, what would be the taxes associated with this sale? d. If the old machine were sold for $9 comma 000, what would be the taxes associated with this sale? a. If the old machine were sold for $32 comma 000, there would be $ nothing ▼ tax payments. tax savings. (Round to the nearest dollar and select from the drop-down menu.)

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(Capital gains tax) The J. Harris Corporation is considering selling one of its old assembly machine...

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