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An asset used in a 4-year project falls in the 5-year MACRS class (refer to MACRS table on page 277), for tax purposes. The asset

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An asset used in a 4-year project falls in the 5-year MACRS class (refer to MACRS table on page 277), for tax purposes. The asset has an acquisition cost of $16,023,117 and will be sold for $4,293,285 at the end of the project. If the tax rate is 0.23, what is the aftertax salvage value of the asset (SVNOT)

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