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mazon purchased a piece of land for $5 million and plans to build a $25 million distrib rarehouse to be put to service on Sept 3rd 2022. Develop the depreciation table for this e first 10 years of its service life. What would the tax liability be if this facility was so

mazon purchased a piece of land for $5 million and plans to build a $25 million distrib rarehouse to be put to service on Sept 3rd 2022. Develop the depreciation table for this e first 10 years of its service life. What would the tax liability be if this facility was so

FINANCIAL ACCOUNTING
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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Amazon purchased a piece of land for $5 million and plans to build a $25 million distribution warehouse to be put to service on Sept 3rd 2022. Develop the depreciation table for this property for the first 10 years of its service life. What would the tax liability be if this facility was sold to Target for $18 million in Sept 15th 2032? The federal corporate rate is 21% and the capital gains rate is 15%.
Transcribed Image Text:Amazon purchased a piece of land for $5 million and plans to build a $25 million distribution warehouse to be put to service on Sept 3rd 2022. Develop the depreciation table for this property for the first 10 years of its service life. What would the tax liability be if this facility was sold to Target for $18 million in Sept 15th 2032? The federal corporate rate is 21% and the capital gains rate is 15%.
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