Calculate gain or loss on disposal

Assignment Help Financial Management

Reference no: EM131855918

Genetic Insights Co. purchases an asset for $18,972. This asset qualifies as a seven-year recovery asset under MACRS. The seven-year fixed depreciation percentages for years 1, 2, 3, 4, 5, and 6 are 14.29%, 24.49%, 17.49%, 12.49%, 8.93%, and 8.93%, respectively. Genetic Insights has a tax rate of 30%. The asset is sold at the end of six years for $4,687. Calculate gain or loss on disposal. Gain should be entered as a positive number. Loss should be entered as a negative number. Round the answer to two decimals.

Reference no: EM131855918

Questions Cloud

Estimating the sustainable growth : Coca-Cola (KO) is the world's largest producer of soft-drink concentrates, syrups, and juices. Its soft-drink brands include Coke, Diet Coke, Cherry Coke.

Makes equal quarterly installments : What will her payment be if she makes equal quarterly installments over the next ten years?

What is their future value if the compounding rate : If you start making $195 monthly contributions today and continue them for four years, what is their future value if the compounding rate is 11.25 percent APR?

Continuous cardiac monitor : The registered nurse is working on a telemetry unit and the alarm begins to sound on the continuous cardiac monitor.

Calculate gain or loss on disposal : Calculate gain or loss on disposal. Gain should be entered as a positive number.

History peripheral artery disease and type 2 diabetes : A client has been admitted to the unit with chest pain and a history peripheral artery disease and type 2 diabetes. The client is scheduled for cardiac

Replacing the inner cannula and cleaning the stoma site : A preceptor is supervising the graduate nurse while they are performing tracheostomy care. Which action would cause the preceptor to intervene during the care?

What is the maturity risk premium for the two year security : Maturity Risk Premium-What is the maturity risk premium for the 2-year security?

What are the advantages and the disadvantages of a merger : What are the advantages and the disadvantages of a merger? Provide an example of either - a merger that was successful, or one that was unsuccessful.

User Account

All Pages