Allen Air Lines must liquidate some equipment that is being replaced. The equipment originally cost $15...
Allen Air Lines must liquidate some equipment that is being replaced. The equipment originally cost $15 million, of which 85% has been depreciated. The used equipment can be sold today for $4.5 million, and its tax rate is 30%. What is the equipment's after-tax net salvage value? Write out your answer completely. For example, 2 million should be entered as 2,000,000.
Homework Answers
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| a | Equipment cost = | 15000000 |
| b | Depreciation till date 85% = | 12750000 |
| c=a-b | Carrying value = | 2250000 |
| d | sales price = | 4500000 |
| e=d-c | gain on sale | 2250000 |
| f=e*30% | Tax on gain | 675000 |
| e=d-f | Post tax salvage value = | 3825000 |
| Therefore post tax salvage value = | 3825000 |
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