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What is the tax implication of the sale

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Reference no: EM132558449

A company is planning to sell old equipment that was purchased 13 years ago for $1,600,000. The market value of the equipment is $500,000. The equipment has depreciated to a book vaLue of $300,000. What is the tax implication of the sale of this equipment? The company's marginal tax rate is 34%.

Reference no: EM132558449

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