What is happening at the time of disposal

Reference no: EM131945816

Question: Bill Mahr, Inc. has a $150,000 asset has been depreciated with the straight-line method over an 8 year life. The estimated salvage value was $30,000. At the end of the 5th year the asset was sold for $90,000. From the tax perspective, what is happening at the time of disposal and what is the dollar amount?

Reference no: EM131945816

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