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26. ABC Inc. plans to sell an asset for $23,000. The asset was acquired 5...

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26. ABC Inc. plans to sell an asset for $23,000. The asset was acquired 5 years ago for $50,000 and was depreciated using the straight-line method with an expected life of 5 years. If ABC's tax rate is 21%, then the taxes owed on the sale will be: A $2,000 B $3,00 C $4,100 D $5,200 E None of the above

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