ABC Company purchased a new machinery 4 years ago for $68,721. Today, it is selling this equipment for $20,792. What is the after-tax salvage value if the tax rate is 23 percent?
The MACRS allowance percentages are as follows, commencing with year one: 20.00, 32.00, 19.20, 11.52, 11.52, and 5.76 percent.