Homework answers / question archive / Three years ago, Stock Tek purchased some five-year MACRS property for $82,600

Three years ago, Stock Tek purchased some five-year MACRS property for $82,600

Finance

Share With

Three years ago, Stock Tek purchased some five-year MACRS property for $82,600. Today, it is selling this property for $31,500. How much tax will the company owe on this sale if the tax rate is 34 percent? The MACRS allowance percentages are as follows, commencing with Year 1: 20.00, 32.00, 19.20, 11.52, 11.52, and 5.76 percent.