A company is evaluating a new 4 year project. The equipment necessary for the project will cost $3,850,000 and can be sold for $750,000 at the end of the project. The asset is in the 5 -year MACRS class. The depreclation percentage each year is 20.00 percent, 32.00 percent, 19.20 percent, 11.52 percent, and 11.52 percent, respectively. The company's tax rate is 21 percent. What is the oftertax salvage value of the equipment? (Hint. First find the book value and compare to the salvage value to identify tax implication. Use the aftertax salvage equation for assistance.)