7) Your company is evaluating a new project that will require the purchase of an asset for $22,000 installed. The asset will be depreciated using 5-year MACRS. The asset will be operated for 6 years and expected to have a market value of $6,000 at the end of 6 years. The applicable tax rate is 30% and the cost of capital is 12% a) Calculate the after tax salvage for the asset at the end of 6 years. b) Calculate the gain or loss) from the sale of the asset at the end of 6 years? (And indicate whether it is a gain or a loss. c) Calculate the tax consequences from the sale of the asset in 6 years and indicate whether it is a tax liability or tax saving