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6 years ago, Company spent $2,300,000 to purchase an equipment with a 8-year expected life. The equipment was depreciated straight-line to zero over its 8-year
6 years ago, Company spent $2,300,000 to purchase an equipment with a 8-year expected life. The equipment was depreciated straight-line to zero over its 8-year life.
Today, the management of Company decides to sell the equipment at a market price of $350,000.
The tax rate 34%.
Please calculate the after-tax salvage value for the equipment.
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