The firm no longer uses this property so is selling it


The Galley Inc. purchased some 3-year MACRS property two years ago at a cost of $19,800. The MACRS rates are 33.33 percent, 44.44 percent, 14.82 percent, and 7.41 percent. The firm no longer uses this property so is selling it today at a price of $13,500. What is the amount of the pretax profit on the sale?

Solution Preview :

Prepared by a verified Expert
Business Law and Ethics: The firm no longer uses this property so is selling it
Reference No:- TGS02909566

Now Priced at $10 (50% Discount)

Recommended (94%)

Rated (4.6/5)