Wildhorse Corporation just purchased computing equipment for $$36,000.$ The equipment will be depreciated using a

five$-$year MACRS depreciation schedule. If the equipment is sold at the end of its fourth year for $$31,000,$ what are the

after$-$tax proceeds from the sale, assuming the marginal tax rate is $30$ percent? $($Round answer to $2$ decimal

places, e$.$g$.5,275\mathrm{.}25.)$

EXHIBIT $11\mathrm{.}5$ MACRS Depreciation Schedules by Allowable Recovery Period

The MACRS schedule lists the tax depreciation rates that firms use for assets placed into service after

the Tax Reform Act of $1986$ went into effect. The table indicates the percentage of the cost of the asset

that can be depreciated in each year during the period that it is being used. Year $1$ is the year in which

the asset is first placed into service.