4 years ago, Agro, Inc., purchased an ACE generator that cost $250,000. Argo had to...
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Accounting
- 4 years ago, Agro, Inc., purchased an ACE generator that cost $250,000. Argo had to pay an additional $50,000 for delivery and installation. The investment in the generator required the firm to increase its net working capital position by $25,000. The generator is being depreciated over 5 years using straight-line depreciation to zero. The firm sells the generator after the 4th year for $75,000. Calculate the after-tax gain from the sale of this asset if the firm is in the 40% tax bracket.
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