At the end of a project, a machine bought by a company for R1 000 000 at the start of the project, is sold for R1500 000 while its book value is RO. Depreciation deductions were claimed on the asset on the basis of a straight-line write off over 4 years, which was also the length of the project. What would the proceeds to the company be? Assume a tax rate of 28% and capital gains are taxed at 67% of the gain at the 28% rate