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Homework answers / question archive / We buy a machine costing $20,000 and the book value of the machine at the end of five years is $3,420
We buy a machine costing $20,000 and the book value of the machine at the end of five years is $3,420. If the sale price is $2,310, how much tax would we have to pay or save? Assume tax rate is 25%. Pls mention amount and pay or save below Tax Amount Pay or Save Ans:
The answers to the given question is provided in the order below
Tax Amount =(2310-3420)*25%=-277.50
Saved amount=277.50
277.50 SAVE
