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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 $17,670,000 and will be sold for $3,990,000 at the end of the project.

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Question: If the tax rate is 34 percent, what is the aftertax salvage value of the asset?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91167996

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