Power Manufacturing has equipment that it purchased 7 years ago for $2,550,000. The equipment was used for a project that was intended to last for 9 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 $400,000 today. The company's tax rate is 25 percent. What is the aftertax salvage value of the equipment?