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 $5,400,000 and will be sold for $1,700,000 at the end of the project. If the tax rate is 22 percent, what is the aftertax salvage value of the asset? Refer toTable 10.7.

Property Class Year Three-Year Five-Year Seven-Year 33.33% 20.00% 14.29% 44.45 32.00 24.49 14.81 19.20 17.49 7.41 11.52 12.49 11.52 8.93 5.76 8.92 8.93 4.46