Tax effect of loss on sale of asset at the end of a

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Reference no: EM13363375

Tax effect of loss on sale of asset at the end of a project

Suppose an asset is sold for less than its book value at the end of a projects life, and generates a loss that is fully deductible from the firm's ordinary income.

The tax consequences from the sale of the asset will:

a) reduce the firm's tax liability

b) increase the firms tax liability

c) have no effect on the firms tax liability

Reference no: EM13363375

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