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An asset used in a four-year project falls in the five-year MACRS class for tax purposes. The asset has an acquisition cost of $6,500,000 and will be sold for $1,600,000 at the end of the project. If the tax rate is 21 percent, what is the aftertax salvage value of the asset? $ 6,500,000 $1,600,000 21% Acquisition costs Pretax salvage value Tax rate MACRS percentages Year 1 0.2000 Year 2 0.3200 Year 3 0.1920 Year 4 0.1152 Complete the following analysis. Do not hard code values in your calculations $ 1,300,000 Year 1 depreciation Year 2 depreciation Year 3 depreciation Year 4 depreciation Accumulated depreciation 2,080,000 1,248,000 748,800 5,376,800 $ Book value $1,123,200 Aftertax cash flow Pretax salvage value Taxes Aftertax salvage value