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A firm has a machine it can sell for $40,000. The book value of the machine...

A firm has a machine it can sell for $40,000. The book value of the machine is currently $20,000. If the firm sells the machine, what are the net proceed from the sale? Assume that the tax rate is 40%. Round to the nearest penny. Do not include a dollar sign in your answer.

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Answer #1
$
sale value of machine 40000
Book value of machine 20000
20000
Tax rate 40% 8000
Net proceeds 12000
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