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

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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 $8,400,000 and will be sold for $1,750,000 at the end of the project. If the tax rate is 35%, what is the after-tax salvage value of the asset? Year 1 2 3 MACRS Percentage 20% 32% 19.20% 11.52% 11.52% 5.76% 4 5 6

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