What is the equipment after-tax salvage value

Reference no: EM13281769

Kennedy Air Services is now in the final year of a project. The equipment originally cost $21 million, of which 65% has been depreciated. Kennedy can sell the used equipment today for $5.25 million, and its tax rate is 40%.

What is the equipment's after-tax salvage value? Round your answer to the nearest cent.

Reference no: EM13281769

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