The Courage Brewery has just purchased an asset they intend to use in their business. The machine has a cost of $2m and they intend to depreciate this for 6 years straight line. The taxation office has determined that this be depreciated over 15 years straight line.

The project they are undertaking will last 9 years and the asset will be sold at that time for $200,000.

Calculate the after-tax salvage CF in Year 9? Assume a 30% tax rate