Reference no: EM131343709
A firm is liquidating a factory. Equipment that originally cost $120,000 is being sold for $12,000 three years after its purchase. The equipment straight-line depreciated across four years. The firm needs to recover $20,00 of net working which was invested initially. Given that the firm's marginal corporate tax rate is 40%, what is the terminal cash flow for this equipment?
A. 7,200
B. 4,800
C.39,200
D. 32,000
2. A piece of equiipment has depreciate to $3,000, but it sells for $1,000 at an auction. Which of the following consequences is MOST accurate?
A. The firm must pay taxes on the selling price of $1,000
B. The firm can write-off the equipment as a charitable donation since the sellling price is less than one-tenth of the original cost of equipment.
C. The firm must pay taxes on the selling price less the remaining depreciatio costs, $2,000.
D. The firm can document the sale as a capital loss.
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