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Compute the cost of this asset

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Question - Adam Smith is considering automating his pin factory with the purchase of a $475,000 machine. Shipping and installation would cost $5,000. Smith has calculated that automation would result in savings of $45,000 a year due to reduced scrap and $65,000 a year due to reduced labor costs. The machine has a useful life of 4 years and falls in the 3-year property class for MACRS depreciation purposes. The estimated final salvage value of the machine is $120,000. Compute the cost of this asset that, by law, may be written off over time for tax purposes?

a. $280,000

b. $380,000

c. $480,000

d. $580,000

Reference no: EM132767568

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