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 $5.7 million and will be sold for $1.8 million at the end of the project. If the tax rate is 21 percent, what is the aftertax salvage value of the asset?

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 $5.7 million and will be sold for $1.8 million at the end of the project. If the tax rate is 21 percent, what is the aftertax salvage value of the asset? Input area: \begin{tabular}{|lr|} \hline Acquisition costs & $5,700,000 \\ Pretax salvage value & $1,800,000 \\ Tax rate & 21% \\ MACRS depreciation rates & \\ Year 1 & 0.2000 \\ Year 2 & 0.3200 \\ Year 3 & 0.1920 \\ Year 4 & 0.1152 \\ Year 5 & 0.1152 \\ Year 6 & 0.0576 \\ \hline \end{tabular} (Use cells A6 to B15 from the given information to complete this question.) Output area: Book value Aftertax cash flow