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QUESTION
Homework #7E (After-Tax cash flow from selling the old asset)
Homework #7E (After-Tax cash flow from selling the old asset)
Question 1 (1 point)
Genetic Insights Co. purchases an asset for $15,658. This asset qualifies as a seven-year recovery asset under MACRS. The seven-year fixed depreciation percentages for years 1, 2, 3, 4, 5, and 6 are 14.29%, 24.49%, 17.49%, 12.49%, 8.93%, and 8.93%, respectively. Genetic Insights has a tax rate of 30%. The asset is sold at the end of six years for $3,032.
Calculate accumulated depreciation over 6 years. Round the answer to two decimals.
