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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
| 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 $17,640,000 and will be sold for $3,920,000 at the end of the project. |
| Required: |
| If the tax rate is 34 percent, what is the aftertax salvage value of the asset? |
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