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Farris Industrial purchased a machine five years ago at a cost of $265,000. The machine is being depreciated using the straight-line method over eight years.

Farris Industrial purchased a machine five years ago at a cost of $265,000. The machine is being depreciated using the straight-line method over eight years. The tax rate is 21 percent and the discount rate is 16 percent. If the machine is sold today for $74,500, what will be the aftertax salvage value?

$99,375.00
$165,625.00
$24,875.00
$79,723.75
$40,520.50

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