Question: A new machine cost $7,000. The machine will be depreciated on a MACRS 5- year schedule as follows: 20% 32% 19.2% 11.52% 11.52% 5.76% The

A new machine cost $7,000. The machine will be depreciated on

A new machine cost $7,000. The machine will be depreciated on a MACRS 5- year schedule as follows: 20% 32% 19.2% 11.52% 11.52% 5.76% The machine will be sold 3 years from now for $3,000. The tax rate is 20%. Find the after-tax proceeds from the sale of the machine in year 3. Round your answer to the nearest dollar

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