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Sound & Fury Entertainment (SFE) purchased an asset for $1,800,000. The asset is classified as a 7-year asset for purposes of depreciation using MACRS. The
Sound & Fury Entertainment (SFE) purchased an asset for $1,800,000. The asset is classified as a 7-year asset for purposes of depreciation using MACRS. The MACRS table values are 0.1429, 0.2449, 0.1749, 0.1249, 0.0893, 0.0892, 0.0893 and 0.0446 for Years 1 to 8, respectively. SFE sold the asset after six years. Using a 20% tax rate, the after-tax salvage value of the asset is $______________ if SFE sells the asset for $350,000. (Please round your answer to the nearest dollar)
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