Question: Can you please help to answer the below question? Calculating Salvage Value.An asset used in a 4 year project falls in the 5 year MACRS

Can you please help to answer the below question?

Calculating Salvage Value.An asset used in a 4 year project falls in the 5 year MACRS class for tax purposes.The asset has an acquisition cost of $7.6 million and will be sold for $1.4 million at the end of the project.If the tax rate is 21 percent, what is the aftertax salvage value of the asset?

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