Purple Haze Machine Shop is considering a four-year project to improve its production efficiency. Buying a new machine press for $501,133 is estimated to result in $201,661 in annual pretax cost savings. The press falls in the MACRS five-year class, and it will have a salvage value at the end of the project of $109,436. The shop's tax rate is 29 percent. What is the after tax salvage value of this asset?

Modified ACRS Depreciation Allowances (Table 10.7)
Year	Three-Year	Five-Year	Seven-Year
1	33.33%	20.00%	14.29%
2	44.45%	32.00%	24.49%
3	14.81%	19.20%	17.49%
4	7.41%	11.52%	12.49%
5		11.52%	8.93%
6		5.76%	8.92%
7			8.93%
8			4.46%