Hello! I got two questions wrong on a homework assignment but I'm not sure why and how I solved wrong.. Can you walk me through how to solve them both please?

An asset used in a 4-year project falls in the 5-year MACRS class (refer to MACRS table on page 277),for tax purposes. The asset has an acquisition cost of $16382000 and will be sold for $5573000 at the end of the project. If the tax rate is 0.40, what is the aftertax salvage value of the asset ?

Answer:

2852340 (This is my answer)

(4476123.84) (this is the correct answer)

Question 5

0 / 1 point

Parker & Stone, Inc., is looking at setting up a new manufacturing plant in South Park to produce garden tools. The company bought some land 8 years ago for $6644000 in anticipation of using it as a warehouse and distribution site, but the company has since decided to rent these facilities from a competitor instead. If the land were sold today, the company would net $3531000. An engineer was hired to study the land at a cost of $668000, and her conclusion was that the land can support the new manufacturing facility. The company wants to build its new manufacturing plant on this land; the plant will cost $6296000 million to build, and the site requires $973000 worth of grading before it is suitable for construction. What is the proper cash flow amount to use as the initial investment in fixed assets when evaluating this project?

Answer:

7937000 (this was my answer)

(10800000.00) (This is the correct answer)