An asset used in a 4-year project falls in the 5-year MACRS class (MACRS Table)...
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Accounting
An asset used in a 4-year project falls in the 5-year MACRS class (MACRS Table) for tax purposes. The asset has an acquisition cost of $12,060,000 and will be sold for $2,680,000 at the end of the project. Required: If the tax rate is 32 percent, what is the aftertax salvage value of the asset?
$2,489,270
$1,822,400
$2,870,730
$2,613,733
$2,364,806
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