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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 $6,150,000 and will be sold for $1,350,000 at the end of the project. If the tax rate is 25 percent, what is the aftertax salvage value of the asset? Refer to Table 8.3. (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to 2 decimal places, e.g., 1,234,567.89.) Answer is complete but not entirely correct. Aftertax salvage value $ 265,680.00 X TABLE 8.3 Depreciation under Modified Accelerated Cost Recovery System (MACRS) RECOVERY PERIOD CLASS 5 YEARS 7 YEARS 10 YEARS YEAR 3 YEARS 15 YEARS 20 YEARS 1 .0500 .3333 4445 .0950 2 3 4 .1481 .2000 .3200 .1920 .1152 .1152 .0576 .0741 .1429 2449 .1749 .1249 .0893 0892 .0893 5 6 .1000 .1800 .1440 .1152 .0922 .0737 .0655 .0655 .0656 .0655 .0328 .0446 7 8 9 10 .0855 .0770 .0693 .0623 .0590 .0590 .0591 .0590 ,0591 .0590 .0591 .0590 ,0591 .0295 .03750 .07219 .06677 .06177 .05713 .05285 .04888 .04522 .04462 .04461 .04462 .04461 .04462 .04461 .04462 .04461 .04462 .04461 11 12 13 14 15 16 17 18 19 20 21 .04462 .04461 .02231