An asset used in a 4-year project falls in the 5-year MACRS class (MACRS Table) for tax purposes. The asset has an acquisition cost of $13,500,000 and will be sold for $3,000,000 at the end of the project.

If the tax rate is 21 percent, what is the aftertax salvage value of the asset?

Multiple Choice

$2,859,888

$2,370,000

$3,140,112

$3,002,882

$2,716,894