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Cmpute the total taxes resulting from the sale of the

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Capital Gain (Loss) and Recapture of Depreciation. For each of the following cases, compute the total taxes resulting from the sale of the asset. Assume a 34 percent ordinary tax rate. The asset was purchased for $75,000 3 years ago and has a book value (undepreciated value) of $40,000.

(a) The asset is sold for $80,000.

(b) The asset is sold for $70,000.

(c) The asset is sold for $40,000.

(d ) The asset is sold for $38,000.

Reference no: EM13574604

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