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Benson Co. purchases an asset for $6,000. This asset qualifies as a seven-year recovery asset under MACRS. Benson has a tax rate of 30%.
Benson Co. purchases an asset for $6,000. This asset qualifies as a seven-year recovery asset under MACRS. Benson has a tax rate of 30%. The seven-year expense percentage for years 1,2,3,4,5 and 6 are 14.29%,24.49%,17.49%,8.93% and 8.93% respectively. If the asset is sold at the six years for $2,000, what is the cash flow from disposal? show your working.