You purchase a machine for $12,000, depreciated straight-line to a salvage value of $2,000 over its 5 year life. If the machine is sold at the end of the third year for $7,500, what are the after tax proceeds from the sale, assuming your tax rate is 34%?

a) $6,990

b) $7,160

c) $7,210

d) $7,390

e) $7,500