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A firm purchased an asset for $670,000 and was expected to be depreciated straight-line to zero over its eight-year tax life. However the asset was

A firm purchased an asset for $670,000 and was expected to be depreciated straight-line to zero over its eight-year tax life. However the asset was sold for $95,000 at the end of year five. If the relevant tax rate is 35%, what is the after-tax salvage value of this asset

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