Tax calculations For each of the following cases...

Tax calculations For each of the following cases, determine the total taxes resulting from the transaction. Assume a 40% tax rate. The asset was purchased 2 years ago for $200,000 and is being depreciated under MACRS using a 5-year recovery period. (See Table 4.2 on page 117 for the applicable depreciation percentages.)

a. The asset is sold for $220,000.

b. The asset is sold for $150,000.

c. The asset is sold for $96,000.

d. The asset is sold for $80,000.