This year, Izard Company sold equipment purchased several years ago at a cost of $48,500....
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Accounting
This year, Izard Company sold equipment purchased several years ago at a cost of $48,500. Accumulated depreciation through date of sale was $12,900.
What is the adjusted basis?
What is the tax impact if the sale price is 25,000?
What is the tax impact if the sale price is 50,000?
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