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Allen Air Lines must liquidate some equipment that is being replaced. The equipment originally cost $ 1 2 million, of which 7 5 % has

Allen Air Lines must liquidate some equipment that is being replaced. The equipment originally cost $12 million, of which 75% has been depreciated. The salvage value is $4 million. The federal-plus-state tax rate is 25%. What is the equipments after-tax net salvage value?

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