A COMPANY WITH A TAX RATE OF 40% SOLD A CAPITAL ASSET WITH A NET B...

64.

A company with a tax rate of 40% sold a capital asset with a net book value of $500,000 for $570,000 during the year. Which of the following amounts related to the asset sale will most likely be reported as a line item on its income statement for the year? A. $570,000 B. $70,000 C. $42,000