Consider an asset that costs $660,000 and is depreciated straight-line to zero over its eight-year tax life. The asset is to be used in a five-year project; at the end of the project, the asset can be sold for $135,000. If the relevant tax rate is 25 percent, what is the aftertax cash flow from the sale of this asset? (Do not round intermediate calculations.)

My Work:

1. depreciation expense per year: 660,000/8 = $82,500

2. value after 5 years: 660,000-(82,500*5) = $237,500

3. tax expense: 237,000*.25 = $61,875

4. aftertax cash flow: 237,500 - 61,875 = $185,625

I answered this and it was incorrect can you please explain where I went wrong.