Consider an asset that costs $653,000 and is depreciated straight-line to zero over its eight-year tax life. The asset is to be used in a five-year project; at the end of the project, the asset can be sold for $152,000.
Required:
If the relevant tax rate is 34 percent, what is the aftertax cash flow from the sale of this asset? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)