A corporation is selling an existing asset for $1,000. The asset, when purchased, cost $10,000, was being depreciated under MACRS using a five-year recovery period, and has been depreciated for four full years
If the assumed tax rate is 40 percent on ordinary income and capital gains, the tax effect of this transaction is ________.
A) $0 tax liability
B) $1,100 tax liability
C) $3,600 tax liability
D) $280 tax benefit
D
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When an individual feels his or her right to make choices has been taken away, he or she no longer has ______.
a. responsibility b. interaction c. connection d. autonomy
The three most common ways to obtain documentary evidence which are valuable but difficult to obtain are:
a. subpoena, voluntary consent, and searching public records b. subpoena, search warrant, and voluntary consent c. search warrant, invigilation, and surveillance d. voluntary consent, surveillance, and invigilation
With too much emphasis on person-team fit, the leader and team might be prone to select new team members ______.
a. too quickly b. too slowly c. who look and think like them d. who do not look or think like them
The law makes the common carrier a limited (conditional) insurer of the goods it carries.
Answer the following statement true (T) or false (F)