3 years ago your company bought a machine for $28,000. The machine has been depreciated using a 7-year MACRS schedule.

Today, your company sells the machine for $18,000. If the tax rate is 27%, what are the after tax proceeds from the sale of the machine?

Here is the MACRS 7-year schedule:

14.29%

24.49%

17.49%

12.49%

8.93%

8.92%

8.93%

4.46%

Round your answer to 2 decimal places.

Can you please help solve this problem with step by step instructions? Thank you!