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Calculating Salvage Value An asset used in a four-year project falls in the five-year MACRS class for tax purposes. The asset has an acquisition cost
Calculating Salvage Value 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 $8,300,000 and will be sold for $1,700,000 at the end of the project. If the tax rate is 35 percent, what is the aftertax salvage value of the asset?
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