An asset used in a 4-year project falls in the 5-year macrs, Ask an Expert

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An asset used in a 4-year project falls in the 5-year MACRS class (MACRS Table) for tax purposes. The asset has an acquisition cost of $18,720,000 and will be sold for $4,160,000 at the end of the project. If the tax rate is 34 percent, what is the aftertax salvage value of the asset?

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