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Find what will be the after-tax proceeds on the sale

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Talia's Tutus bought a new sewing machine for $90,000 that will be depreciated over 5 years using double-declining-balance depreciation with a switch to straight-line.

Required:

Question a. Find the depreciation charge each year.

Question b. If the sewing machine is sold after 2 years for $55,000, what will be the after-tax proceeds on the sale if the firm's tax bracket is 35%?

Reference no: EM132555810

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