A food truck owner purchases a deep fryer for 1000


Question: A food truck owner purchases a deep fryer for $1,000. Expecting to use the fryer for four years, the food truck owner uses the straight-line method and depreciates the fryer at $250 for three years. At the end of the third year, the food truck owner resells the fryer for $350. The corporate income tax rate is 28%. How much is the food truck owner's tax burden?

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Finance Basics: A food truck owner purchases a deep fryer for 1000
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