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 $9,300,000 and will be sold for $2,700,000 at the end of the project. The tax rate is 35 percent. If the project lasts for three years instead of four years, what is the after-tax salvage value of the asset when the project is finished? MACRS Applicable Percentage for Property Class Recovery Year 3-Year Property 5-Year Property 1 33.33 20.00 2 44.45 32.00 3 14.81 19.20 4. 7.41 11.52 5 11.52 6 5.76 $1,755,000 $2,678,400 $1,928,115 $2,692,440 $7,200,000