Quick towing Company

Question # 00001790 Posted By: expert-mustang Updated on: 09/29/2013 08:21 AM Due on: 09/29/2013
Subject Accounting Topic Accounting Tutorials:
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Suppose the Quick towing Company purchases a new tow truck. The old truck had a book value of $1,000 and was sold for $1420. If Quick Towing is in the 34 percent marginal tax bracket, what is the tax liability on the sale of the truck?

What is the after-tax cash flow on sale?

Please show work.

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  1. Tutorial # 00001627 Posted By: expert-mustang Posted on: 09/29/2013 08:22 AM
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    The solution of Solution to Quick towing Company...
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