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n asset was purchased three years ago for $120,000. It falls into the five-year category...

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Accounting

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n asset was purchased three years ago for $120,000. It falls into the five-year category for MACRS depreciation. The firm is in a 25 ercent tax bracket Use fable 12-12 9. Compute the tax loss on the sale and the related tax benefit if the asset is sold now for $12,560. Note: Input oll omounts as positive values. Do not round intermediate calculations and round your answers to whole dollors. b. Compute the gain and related tax on the sale if the asset is sold now for $51,060. Note: Input all omounts os positive values. Do not round intermediate colculotions and round your answers to whole dollars. Table 12-12 Depreciation percentages (expressed in decimals)

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