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Assuming you have a combined federal and state income tax

Question - Your company purchases a delivery van for your business. The cost is $35,000, with you paying $5,000 down and financing the rest over 6 years at 8%. Assuming you have a combined federal and state income tax rate of 35%, what is the total after-tax cost of the van? (Ignore depreciation)

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Accounting Basics: Assuming you have a combined federal and state income tax

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