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Daly Publishing Corporation recently purchased a truck for $34,000. Under MACRS, the first years depreciation...

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Accounting

Daly Publishing Corporation recently purchased a truck for $34,000. Under MACRS, the first years depreciation was $6,800. The truck drivers salary in the first year of operation was $47,400. The companys tax rate is 30 percent.

Required:

  1. 1-a. Calculate the after-tax cash outflow for the acquisition cost and the salary expense.

  2. 1-b. Calculate the reduced cash outflow for taxes in the first year due to the depreciation.

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