Question 16 IBM purchased new equipment for $18,000 for a 5-year project. The equipment was depreciated using the MACRS depreciation schedule given below: Years 1 3 MACRS 20.00% |32.00% 119.20% 11.52% 11.52% 5.76% 14 15 16 If the equipment is sold at the end of the project for $3,600, what are the after-tax proceeds from the sale of the equipment, assuming the marginal tax rate is 21.00%? $2,756 $3,123 $3,062 $2,878 $3,307