Power Manufacturing has equipment that it purchased 4 years ago for $2,800,000. The equipment was used for a project that was intended to last for 6 years. However, due to low demand, the project is being shut down. The equipment was depreciated using the straight-line method and can be sold for $450,000 today. The company's tax rate is 35 percent. What is the aftertax salvage value of the equipment?

Multiple Choice

• $607,500

• $450,000

• $280,833

• $534,583

• $619,167