Multiple Choice
Famous Danish Corp. is replacing an old cookie cutter with a new one. The cookie cutter is being sold for $25,000 and it has a net book value of $75,000. Assume that Famous Danish is in the 34% income tax bracket. How much will Famous Danish net from the sale?
A) $61,000
B) $55,000
C) $75,000
D) $42,000
Correct Answer:
Verified
Correct Answer:
Verified
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