Homework Answers
| $28,250 | |
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| Statement showing Computations | |
| Particulars | Amount |
| Cost of asset | 100,000.00 |
| Salvage value | - |
| Life in years | 4.00 |
| Depreciation per year = (100000 - 0)/4 | 25,000.00 |
| Depreciation for 3 years = 25000*3 | 75,000.00 |
| Book value at end of 3 years = 100000 - 75000 | 25,000.00 |
| Sale value | 30,000.00 |
| Gain on sale = 30000 - 25000 | 5,000.00 |
| Tax on Gain = 5000*.35 | 1,750.00 |
| After tax cash flow from sale of asset = 30000 - 1750 | 28,250.00 |
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