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Questions -
Q1. Par owns 90.41% of Sub Corp. Par sold depreciable assets to Sub on January 1, Year 3, at a before-tax gain of $45,901. On January 1, Year 4, Sub sold depreciable assets to Par at a before-tax gain of $91,803. Both assets are being depreciated over ten (10) years. The tax rate for both companies is 30.99%. What is the total amount of after-tax unrealized profit remaining at the end of Year 4?
a. $80,300
b. $78,241
c. $76,182
d. $84,418
e. $82,359
Q2. Par owns 88.25% of Sub Corp. Par sold depreciable assets to Sub on January 1, Year 3, at a before-tax gain of $39,115. On January 1, Year 4, Sub sold depreciable assets to Par at a before-tax gain of $78,231. Both assets are being depreciated over ten (10) years. The tax rate for both companies is 28.83%. What is the total amount of after-tax unrealized profit remaining at the end of Year 3?
a. $24,428
b. $23,802
c. $23,175
d. $25,681
e. $25,054
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