. A new machine costs $69,000 and will be depreciated using the MACRS schedule for a 5-year recovery period. If the machine is sold after 4 years for $36,500, what are the after-tax proceeds if the tax rate is 32%?

MACRS 5 year

year 1 : 20%

year 2 : 32%

year 3 : 19.20%

year 4 : 11.52%

year 5 : 11:52%

year 6 : 5.76%