Ewha Corp purchased some machinery 3 years ago for $300,000. These assets are classified as 5-year property for MACRS. The company is replacing this machinery today with newer machines that utilize the latest in technology. The old machines are being sold for $110,000 to a foreign firm for use in its production facility in South America. What is the after-tax salvage value from this sale if the tax rate is 20 percent? MACRS 5-year property Year: 2 3 4 5 6 Rate: 20.00% 32.00% 19.20% 11.52% 11.52% 5.76% Answer : $88,000Ewha Corp preferred stock pays a $4.0 annual dividend. What is the maximum price you are willing to pay for one share of this stock today if your required return is 25.0 percent? Answer: $22.436571