Solution-What was the forklift book value at the time of

What was the forklift book value at the time of sale

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Reference no: EM132794458

Question - In December of 20x4, Atlas Chemical Corporation sold a forklift for $17,300. The machine was purchased in 20x1 for $70,000. Since then $50,400 in depreciation has been recorded on the forklift.

Required -

1. What was the forklift's book value at the time of sale?

2. Compute the gain or loss on the sale.

3. Determine the after-tax cash flow at the time the forklift was sold. The firm's tax rate is 45 percent.

Reference no: EM132794458

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What was the forklift book value at the time of sale

Reference no: EM132794458

Reference no: EM132794458

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