$\backslash$table$[[$MACRS Property Class$],[$Year$,3$ Year,$5$ Year,$7$ Year$],[1,33\mathrm{.}33\%,20\mathrm{.}00\%,14\mathrm{.}29\%$

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 $$6,070,000$ and will be sold for $$1,270,000$ at the end of the project. If the tax rate is $40$ percent, what is the after$-$tax salvage value of the asset? Please refer to the MACRS Table included.