Suppose You Sell a Fixed Asset for $99,000 When Its

question 21

Multiple Choice

Suppose you sell a fixed asset for $99,000 when its book value is $75,000. If your company's marginal tax rate is 39 percent, what is the gain or loss on the sale of the asset?

• A) $10,300
• B) $11,600
• C) $14,640
• D) $24,000

---

Definitions:

Medical Care

Refers to the services provided by health professionals to diagnose, treat, and prevent illness, injury, and other physical and mental impairments in people.

Sick Role

A concept in medical sociology that describes the patterns of behavior that a sick person adopts to minimize the disruptive impact of their illness on others.

Theoretical Perspective

An established principle or set of principles proposed to explain phenomena, guiding the collection and analysis of related facts.

Utilize Health Services

The act of seeking and making use of medical care, treatments, and facilities to maintain or improve one's health.