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    Mar 1, 2014, 07:45 PM
    How to calculate liabilities without equity
    Given the following information concerning an asset recently purchased by a local Hoboken
    manufacturing firm:
    Initial cost $500,000
    Estimated salvage value $80,000
    Estimated useful life 5 years
    Depreciation method Straight Line

    Calculate liability, if the asset is sold at the end of year 3 at $250,000 and tax 25%

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