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 $6,500,000 and will be sold for $1,600,000 at the end of the project. If the tax rate is 21 percent, what is the aftertax salvage value of the asset? 6,500,000 1,600,000 Acquisition costs Pretax salvage value Tax rate MACRS percentages Year 1 Year 2 Year 3 Year 4 0.2000 0.3200 0.1920 0.1152