Question: MACRS Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Depreciation Rate 20% 32% 19.2% 11.52% 11.52% 5.76% A company invests $28192

MACRS Year 1 Year 2 Year 3 Year 4 Year 5 Year 6

Depreciation Rate 20% 32% 19.2% 11.52% 11.52% 5.76%

A company invests $28192 in new machinery, which was depreciated using the five-year MACRS schedule shown above. If the company sold the machinery immediately after the end of year 3 for $11371, what is the after-tax salvage value from the sale, given a tax rate of 38%? Enter your answer in dollars and round to the nearest dollar.

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