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Compute the federal taxes owed

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Three-year MACRS property class type equipment bought for $30,000 is being sold for sale price of $20,000 at the end of five years. The company is in the 34% tax bracket. Compute the Federal Taxes owed (if any) for this transaction.

Type your answer rounded to the nearest $100 using the following format: $XXXX

Reference no: EM131157918

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Compute the federal taxes owed : Three-year MACRS property class type equipment bought for $30,000 is being sold for sale price of $20,000 at the end of five years. The company is in the 34% tax bracket. Compute the Federal Taxes owed (if any) for this transaction.
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