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 $7,100,000 and will be sold for $1.440,000 at the end of the project. If the tax rate is 34 percent, what is the after-tax salvage value of the asset? The MACRS rates for the 1st four years is 20 + 32 + 192 + 1152 Multiple Choice $1,440,000 $7,100,000 $1,226,880 $1,367,539