What is the tax on sale in 2015 if mike sells the 345 dl at, Financial Management

+44 141 628 6080
[email protected]

What is the tax on sale in 2015 if mike sells the 345 dl at

Assume that today is December 31, 2015. Mike Mulligan Excavation Inc. has one Caterpillar 345DL Hydraulic Excavator. It was purchased at the beginning of 2014 for $297,000.

The excavator is classified as a 10-year property. (MACRS depreciation rates are shown in the table)

Year 5-Year 7-Year 10-Year

1 20.00% 14.29% 10.00%

2 32.00% 24.49% 18.00%

3 19.20% 17.49% 14.40%

4 11.52% 12.49% 11.52%

5 11.52% 8.93% 9.22%

Selected financial values for 2015 are shown in the table, below. Assume a corporate tax rate of 35%.

What is the tax on sale in 2015 if Mike sells the 345DL at the end of 2015 for $230,000 ?

View Complete Question

Request for Solution File

Ask an Expert for Answer!!

Financial Management: What is the tax on sale in 2015 if mike sells the 345 dl at

Reference No:- TGS02312679

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Asked Questions

What should nurse expect to see in client living with esld

Which assessment and laboratory findings should the nurse expect to see in a client living with ESLD?

Care for a patient who reported a long history of abuse

Question: The nurse is caring for a patient who has reported a long history of abuse in her childhood.

Requirement to provide treatment to newborns

Multiple Select Question Select all that apply Identify the exceptions to the requirement to provide treatment to newborns.

Describe psychiatric clinic by her primary provider

Assignment task: A 72-year-old female is referred to the psychiatric clinic by her primary provider for an in-depth assessment.

What is the cause of this metabolic state

pH7.55 PaCO2 30 mm Hg PaO2 65 mm Hg What is the cause of this metabolic state? Ali is a 37 yo man, who presents to the nurse practitioner a

Recommendations made for anticoagulation therapy

What recommendations might be made regarding J.P.'s anticoagulation therapy?

Describe socrative solutions for each learner group

Describe Socrative solutions for each learner group for novice nursing staff. Include the strengths and limitations of Socrative and thoughts

Request for Solution File

Ask an Expert for Answer!!

Financial Management: What is the tax on sale in 2015 if mike sells the 345 dl at

Reference No:- TGS02312679

Have a Question? (oR Write a Review)

Recent Questions Asked Financial Management

Q : Investment return medtech corp stock was 5140 per share at

Q : Discuss the relative merits of return on investment roi

Q : If the trade executes how much money do you receive from

Q : It is often said that cash flow is one of the most

Q : What is the tax on sale in 2015 if mike sells the 345 dl at

Q : Is this the same as maximising the companys

Q : What is the value of their stock when the required rate of

Q : Using the equivalent annual annuity approach which

Q : The technique used to moniter the receivable balances that