Reversing Rapids Co. purchases an asset for $197,207. This asset qualifies as a five-year recovery asset under MACRS. Th

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answerhappygod
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Reversing Rapids Co. purchases an asset for $197,207. This asset qualifies as a five-year recovery asset under MACRS. Th

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Reversing Rapids Co. purchases an asset for $197,207. Thisasset qualifies as a five-year recovery asset under MACRS. Thefive-year expense percentages for years 1, 2, 3, and 4 are 20.00%,32.00%, 19.20%, and 11.52% respectively. Reversing Rapids has a taxrate of 30%. The asset is sold at the end of four years for$13,845. Calculate tax credit on disposal. (The answer should beentered as positive value). Round the answer to two decimals.
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