The J. Harris Corporation is considering selling one of its old assembly machines. The machine, purchased for $30,000 7 years ago, had an expected life of 10 years and an expected salvage value of zero. Assume Harris uses simplified straight-line depreciation (depreciation of $3,000 per year) and could sell this old machine for $29,000. Also assume Harris has a 32 percent marginal tax rate.
a. What would be the taxes associated with this sale?
a. If the old machine were sold for $29,000, there would be $ (Round to the nearest dollar and select from the drop-down menu.)