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Question - Concord Corporation purchased machinery for $888000 on January 1, 2014. Straight-line depreciation has been recorded based on a $52800 salvage value and a 5-year useful life. The machinery was sold on May 1, 2018 at a gain of $16800. How much cash did Concord receive from the sale of the machinery?
A. $147,360
B. $128,160
C. $180,960
D. $233,760
Compute the break-even point in Year 3 for the figurines. How many dolls and how many replicas must be sold to break-even
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At the beginning of 2010, Norris Company had a deferred tax liability of $6,400, because of the use of MACRS depreciation for income tax purposes and units-of-production depreciation for financial reporting.
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