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P2-6Capital gains taxes. Perkins Manufacturing is considering the sale of two non-depreciable assets, X and Y. Asset X was purchased for $2,000 and will be sold today for $2,250. Asset Y was purchased for $30,000 and will be sold today for $35,000. The firm is subject to a 40% tax rate on capital gains.a. Calculate the amount of capital gain, if any, realized on each of the assets.b. Calculate the tax on the sale of each asset.

P2­6Capital gains taxes. Perkins Manufacturing is considering the sale of two non­depreciable assets, X and Y. Asset X was purchased for $2,000 and will be sold today for $2,250. Asset Y was…

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