9. Hoppy Hops, Inc. purchased hop-harvesting machinery for $150,000 four years ago. Due to a...
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9. Hoppy Hops, Inc. purchased hop-harvesting machinery for $150,000 four years ago. Due to a change in the method of harvesting, the machine was recently sold for $37,500. Determine the MACRS deprecation schedule for the machinery for the four years of ownership. Assume a five-year property class. What is the recaptured depreciation or loss on the sale of the machinery? Find the net income of sale if the tax rate is 39%
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