ABC must purchase a new milling machine. The purchase price is $60,000 and the S&H expense of $5,000. The machine has a tax life of 5 years, and it can be depreciated according to the following rates. The firm expects to operate the machine for 4 years and then sell it for $11,500. If the marginal tax rate is 40%, what will the after-tax salvage value be when the machine is sold at the end of Year 4? (The MACRS rates are 0.2, 0.32, 0.19, 0.12, 0.11, and 0.06 for years 1 to 6, respectively.)