Company buys new machine for $40,000 that will be depreciated using MCRS depreciation schedule for 5 year recovery period.

Company buys new machine for $40,000 that will be depreciated using MCRS depreciation schedule for 5 year recovery period.

a) find depreciation charge each year

b) if machine sold after 3 years for $22,000 what will be the after tax proceeds on the sale if the firm’s tax bracket is 35%?

please show work

Company buys new machine for $40,000 that will be depreciated using MCRS depreciation schedule for 5 year recovery pea) find depreciation charge each yearYear 1Year 2Year 3Year 4Year 5Year…