Power Manufacturing has equipment that it purchased 7 years ago for $2,350,000. 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 $360,000 today. The company's tax rate is 35 percent. What is the aftertax salvage value of the equipment? $303,222 $388,389 $416,778 $486,000 $360,000