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 $19,260,000 and will be sold for $4,280,000 at the end of the project.

Required: If the tax rate is 34 percent, what is the aftertax salvage value of the asset?

$3,956,364

$2,824,800

$4,603,636

$4,154,182

$3,758,545