Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. biiltive purchased its current machine 3 years ago

Biiltive purchased its current machine 3 years ago at a cost of $30,000 with an...

80.2K

Verified Solution

Question

Finance

image
Biiltive purchased its current machine 3 years ago at a cost of $30,000 with an additional $5,000 in shipping and installation costs and $3,000 in training unique to this new machine. The machine is being depreciated down to zero during its five-year ifo. Today, Builtrite is thinking of selling this machine for $20,000. If Builtrite is in the 34% tax bracket, what are the tax implications for the sale? $320tax owed \$340 tax binefit $2040 tax owed 52040 tnx benefit

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Psychology
1.2K views

1. Why ex-convicts rejected for Public housing and healthcare after they are release from jail. Give...

Psychology
1.2K views

Transparency among organizations is related to sharing of safety data among healthcare organizations this also includes...

Biology
1.2K views

5 The drawing below has been made from a photograph showing a cell undergoing mitosis...

Physics
1.2K views

A system of two identical rods L shaped of mass m and length I are...

Statistics
1.2K views

A nurse claims the average number of patients per shift is 50 For which confidence...

Calculus
1.2K views

Answering calcPad Questions VebAssign calcPad questions are displayed with a rectangular answer box similar to...

Calculus
1.2K views

Use any method to evaluate the integral 30 dx S 225x 1 30 dx 225x...

Algebra
1.2K views

The population of a certain inner city area is estimated to be declining according to...

Algebra
1.2K views

The numbered disks shown are placed in a box and one disk is selected at...

Accounting
1.2K views

The primary objective of financial accounting is to ...

Accounting
1.2K views

Activity rates and product costs using activity-based cost Idris Inc. manufactures entry and dining room...

Accounting
1.2K views

CP 4-1 Ethics in Action New Wave Images is a graphics design firm that prepares...