P10-8 Calculating Salvage Value (LOI) An asset used in a 4-year project falls in the 5-year MACRS class (MACRS Table) for tax purposes. The asset has an acquisition cost of $11,340,000 and will be sold for $2,520,000 at the end of the project. If the tax rate is 24 percent, what is the aftertax salvage value of the asset? Multiple Choice $2,385,492 $1,915,200 $2,654,508 $2,504,767 $2,266,218