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 $4,600,000 and will be sold for $1,300,000 at the end of the project. If the tax rate is 21 percent, what is the after-tax salvage value of the asset? Refer to Table 10.7. (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, e.g., 1,234,567.)

question after-tax salvage value

Property Class Three-Year 33.33% 44.45 14.81 7.41 Seven-Year 14.29% 24.49 17.49 12.49 8.93 8.92 8.93 4.46 Year Five-Year 2 3 4 5 6 7 8 20.00% 32.00 19.20 11.52 11.52 5.76