QUESTION
81. Three years ago, Hi Tek purchased some 5-year MACRS property for $67,400. Today, it is selling this property for $28
Category: Business
Subject: Finance
Due Date: 02/03/2016
Question Asked: 2016-02-03 03:06:11
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81. Three years ago, Hi
Tek purchased some 5-year MACRS property for $67,400. Today, it is selling this
property for $28,000. How much tax will the firm owe on this sale if the tax
rate is 34 percent? The MACRS allowance percentages are as follows, commencing
with year one: 20.00, 32.00, 19.20, 11.52, 11.52, and 5.76 percent.
A. -$2,920
B. -$1,480
C. $0
D. $1,480
E. $2,920
AVAILABLE ANSWERS
81. Three years ago, Hi Tek purchased some 5-year MACRS property for $67,400. Today, it is selling this property for $28
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Posted on 2016-02-03 03:06:11
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...ent? The MACRS allowance percentages are as follows, commencing with year one...
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