Julian, curt, and drew were all principals in jcd associates, llc. in the operating agreement they agreed that any principal is permitted to bind the llc. jcd associates:
a) member--managed
b) manager-- managed
c) principal--managed
d) president--managed

Russell's is considering purchasing $697,400 of equipment for a four-year project. the equipment falls in the five-year macrs class with annual percentages of .2, .32, .192, .1152, .1152, and .0576 for years 1 to 6, respectively. at the end of the project the equipment can be sold for an estimated $135,000. the required return is 13.2 percent and the tax rate is 23 percent. what is the amount of the aftertax salvage value of the equipment assuming no bonus depreciation is taken