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Edward's Manufactured Homes purchased some machinery 2 years ago for $44,000. The assets are classified...

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Edward's Manufactured Homes purchased some machinery 2 years ago for $44,000. The assets are classified as 5-year property for MACRS. The company is replacing this machinery today with newer machines that utilize the latest in technology. The old machines are being sold for $17,000 to a foreign firm for use in its production facility in South America. What is the aftertax salvage value from this sale if the tax rate is 34 percent? MACRS 5-year property Year Rate 20.00% 32.00% 19.20% 11.52% 11.52% 5.76%

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