A machine with a book value of $8,000 can be sold for $9,500. The corporation that owns the machine has taxable income of $50,000 and a tax rate of 40%. What would be the tax on the sale of the machine?

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The Answer of A machine with a book value of $8,000 can be sold for $9,500. The corporation that owns the machine has taxable income of $50,000 and a tax rate of 40%. What would be the tax on the sale of the machine?

A Machine with a Book Value of $8,000 Can Be