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An asset used in a 4-year project falls in the 5-year MACRS class (refer to MACRS...

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Finance

An asset used in a 4-year project falls in the 5-year MACRSclass (refer to MACRS table on page 277), for tax purposes. Theasset has an acquisition cost of $17341411 and will be sold for$7116692 at the end of the project. If the tax rate is 0.29, whatis the aftertax salvage value of the asset (SVNOT)?

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