Question: Greetings, I'm really struggling with this problem, not sure where I'm going wrong. Any help is greatly appreciated. Thank you! A company has equipment that

Greetings,

I'm really struggling with this problem, not sure where I'm going wrong. Any help is greatly appreciated. Thank you!

A company has equipment that it purchased 6 years ago for $2,500,000. The equipment was used for a project that was intended to last for 8 years. However, due to low demand, the project is being shut down. The equipment was depreciated using the straight-line method and can be sold for $390,000 today. The company's tax rate is 35 percent. What is the aftertax salvage value of the equipment?

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