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 $12,060,000 and will be sold for $2,680,000 at the end of the project. Required: If the tax rate is 32 percent, what is the aftertax salvage value of the asset?

$2,489,270

$1,822,400

$2,870,730

$2,613,733

$2,364,806