(please answer within 20-30 min) Par owns 88.01% of Sub Corp. Par solddepreciable assets to Sub on January 1,Year 3, at a before-tax gain of $38,361. OnJanuary 1, Year 4, Sub sold depreciableassets to Par at a before-tax gain of $76,723.Both assets are being depreciated over ten(10) years. The tax rate for both companiesis 28.59%. How much after-taxintercompany gain or loss was realizedduring Year 4 from Sub's sale of assets toPar in Year 4?а.$5,618b.$5,226C.$5,487d.$5,095е.$5.357

Answered: e-tax gain of $38,361. O , Sub sold…

Business

Accounting

e-tax gain of $38,361. O , Sub sold depreciable before-tay gain cf $76

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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