Power Manufacturing has equipment that it purchased $5$ years ago for $$2,050,000.$ The equipment was used for a project that was intended to last for $7$ years and was being depreciated over the life of the project. However, due to low demand, the project is being shut down. The equipment was depreciated using the straight$-$line method and can be sold for $$300,000$ today. The company's tax rate is $25$ percent. What is the aftertax salvage value of the equipment?