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 $6,020,000 and will be sold for $1,220,000 at the end of the project. If the tax rate is 35 percent, what is the aftertax salvage value of the asset?

Year	Three-Year	Five-Year	Seven-Year
1	33.33%	20%	14.29%
2	44.45	32	24.49
3	14.81	19.2	17.49
4	7.41	11.52	12.49
5		11.52	8.93
6		5.76	8.92
7			8.93
8			4.46

(Enter your answer in dollars, not millions of dollars, i.e. 1,234,567.) Show your work!