An asset used in a four-year project falls in the five-year MACRS class (0.20, 0.32, 0.192, 0.1152, 0.1152, 0.0576) for tax purposes. The asset has an acquisition cost of $5,000,000 and will be sold for $1,300,000 at the end of the project. If the tax rate is 34 percent, what is the after-tax salvage value of the asset?

		$ 1,260,000
		$ 1,151,760
		$ $ 301,430
		$1,187,637
		$1,300,000