Solution-Determine the tax base of this asset

Determine the tax base of this asset

Reference no: EM132848997

Question - Clooney Limited has a machine which cost $600 000 and has been depreciated by $200 000 to date. The accumulated depreciation for tax purposes is $360 000 and the company tax rate is 30%. Determine the tax base of this asset?

a. $400,000

b. $240,000

c. $108,000

d. $120,000

e. None of these

Reference no: EM132848997

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Determine the tax base of this asset

Reference no: EM132848997

Reference no: EM132848997

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