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Please add the formula An asset used in a four-year project falls in the five-year MACRS class for tax purposes. The asset has an acquisition

image text in transcribedPlease add the formula

An asset used in a four-year project falls in the five-year MACRS class for tax purposes. The asset has an acquisition cost of $5.7 million and will be sold for $1.8 million at the end of the project. If the tax rate is 21 2 percent, what is the aftertax salvage value of the asset? 3 Input area: \begin{tabular}{c|lr|} \hline 4 & Input area: \\ \hline 5 & & \\ \hline 6 & Acquisition costs & $5,700,000 \\ 7 & Pretax salvage value & $1,800,000 \\ 8 & Tax rate & 21% \\ 9 & MACRS depreciation rates & \\ 10 & Year 1 & 0.2000 \\ 11 & Year 2 & 0.3200 \\ 12 & Year 3 & 0.1920 \\ 13 & Year 4 & 0.1152 \\ 14 & Year 5 & 0.1152 \\ 15 & Year 6 & 0.0576 \\ \hline \end{tabular} (Use cells A6 to B15 from the given information to complete this question.) Output area

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