Malea Sold a Machine for $140,000

question 10

Multiple Choice

Malea sold a machine for $140,000.The machine originally cost $90,000 and $10,000 of MACRS depreciation had been allowable.The buyer assumed an existing loan of $40,000,paid $20,000 cash down and agreed to pay $10,000 per year for eight years plus interest.Selling expenses are $10,000.The contract price is

• A)$40,000.
• B)$80,000.
• C)$100,000.
• D)$130,000.

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Definitions:

Muscles

Tissues in the body that have the ability to contract, enabling movement of parts of the body and maintenance of posture.

Limbs

Limbs are the appendages of the human body or of animals, used for movement or manipulation, including arms, legs, wings, or flippers.

Sucking Rate

A measure often used in developmental psychology to assess newborns' and infants' information processing capabilities by monitoring the frequency of their sucking behavior.

The Cat In The Hat

"The Cat In The Hat" is a classic children's book written by Dr. Seuss that features a mischievous cat in a tall, striped hat who causes chaos for two children when their parents are away.