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What is the tax on the sale of the equipment

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Reference no: EM132185350

A firm purchases equipment for $5,000,000. The equipment has a useful life of 10 years and a salvage value of $700,000 at the end of the project's life of 8 years. The tax rate is 35%. What is the tax on the sale of the equipment.

Reference no: EM132185350

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