Penn Inc. is considering a project that will require the purchase of $$980,000$ in new equipment. The equipment will be depreciated straight$-$line to a zero book value over the $7-$year life of the project. The equipment can be sold at $49,000$ at the end of the project. Annual sales from this project are estimated at $$420,000.$ Net working capital equal to $20$ percent of sales will be required to support the project. All of the net working capital will be recouped. The required return is $16$ percent and the tax rate is $35$ percent. What is the amount of the aftertax salvage value of the equipment?

Group of answer choices

$$17,150$

$$31,850$

$$118,800$

$$237,600$