Question 20 (3 points) An asset used in a four-year project falls in the five-year MACRS class for tax purposes. The depreciation allowances for the five-year MACRS class are 20%, 32%, 19.2%, 11.52%, 11.52%, and 5.76% for years 1 through 6, respectively. The asset has an acquisition cost of $4,900,000 and will be sold for $1,600,000 at the end of the project. If the tax rate is 23 percent, what is the after-tax salvage value of the asset? Enter your answer as dollars with 0 digits to the right of the decimal point in the box shown below. Your