Power Manufacturing has equipment that it purchased 5 years ago for $2,050,000. The equipment was used for a project that was intended to last for 7 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 $300,000 today. The company's tax rate is 35 percent. What is the aftertax salvage value of the equipment? 1:03:12 Multiple Choice $400,000 $300,000 $300,000 $405,000 $200,000