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