National Geographic Is Replacing an Old Printing Press with a New

question 9

Multiple Choice

National Geographic is replacing an old printing press with a new one. The old press is being sold for $350,000 and it has a net book value of $75,000. Assume that National Geographic is in the 40% income tax bracket. How much will National Geographic pay in income taxes from the sale?

• A) $140,000
• B) $45,000
• C) $110,000
• D) $87,010

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Definitions:

Therapeutic Touch

A form of alternative medicine based on the theory that healers can identify and manipulate the energy field surrounding a person to promote healing.

Energy Fields

In some holistic and alternative medicine practices, invisible fields believed to surround and penetrate the human body, influencing health and healing.

Hydromorphone

A potent opioid analgesic medication used to relieve moderate to severe pain.

Naloxone (Narcan)

A medication used to counter the effects of opioid overdose, rapidly reversing the life-threatening respiratory depression.