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:

IQ Tests

Standardized assessments designed to measure human intelligence and cognitive abilities.

Self-Esteem

An individual's overall subjective emotional evaluation of their own worth.

Self-Handicapping

The practice of creating obstacles or excuses for oneself to pre-empt potential failure or justify underperformance.

Self-Serving Bias

The tendency to take credit for success but deny blame for failure; or internal attributions for success, external attributions for failure.