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An asset was purchased three years ago for $120,000. it falls into the five-year category...

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Accounting

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An asset was purchased three years ago for $120,000. it falls into the five-year category for MACRS depreciation. The firm is in a 25 percent tax bracket Use Table 1212 0. Compute the tax loss on the sale and the related tax benefit if the asset is sold now for $12,560 Note: Input all omounts os positive volues. Do not round intermediate colculations and round your answers to whole dollars

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