9-36. A corporation purchased a machine for $60,000 five years ago. It had an estimated life of 10 years and an estimated salvage value of $9,000. The current BV of this machine is $34,500. If the current MV of the machine is

$40,500 and the effective income tax rate is 29%, what is the after-tax investment value of the machine? Use the outsider viewpoint. (9.9)

(a) $28,755

(b) $40,500

(c) $38,760

(d) $37,455

(e) $36,759