For a new project, Armstead Inc, had planned on depreciating new machinery that costs $300,000 on an accelerated basis according to the following depreciation schedule: The project for which the machinery has been purchased ends in four years, and as a result the machinery is going to be sold at its salvage value of $52,000,000. Under this accelerated depreciation method, what is the after-tax salvage value of the equipment at the end of Year 4 ? Assume the firm's tax rate is 40%. $41,600,000 $50,600,000 $46,108