An asset used in a four year project falls in the five year MACRS class for tax purposes. the asset has an acquisition cost of $5,050,000 and will be sold for $1,525,000 at the end of the project. if the tax rate is 25 percent, what is the after tax salvage value of the asset

Problem 10-8 Calculating Salvage Value [L01 An asset used in a four-year project falls in the five-year MACRS class for tax purposes The asset has an acquisition cost of $5,050,000 and will be sold for $1,525,000 at the end of the project. If the tax rate is 25 percent, what is the aftertax salvage value asset? Refer to Iable 10Z (Do not rdund intermediate calculations and enter your answer in dollars, not millions of dollars, e.g.. 1,234,567) Aftertax salvage value 8 5 6 7 8 9