A piece of newly purchased industrial equipment costs $948,000. Assume the equipment is depreciated straight-line to zero over its six-year tax life.

The equipment is to be used in a six-year project. The relevant income tax rate is 22 percent, and the capital gains tax rate is 15 percent. If the equipment can be sold for $180,000 at the end of its project life, what is the after-tax salvage value from the sale of this equipment?

$140,400

$182,720

$158,000

$135,690

$150,840